Budget Reactions: Housing focus to boost construction: Bhartiya International

Snehdeep Aggarwal
Bhartiya International

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“The Union Budget 2013-14 presented today is a very realistic and balanced budget. The finance minister move to give an additional deduction of interest of upto Rs One lakh for first home loan upto Rs 25 lakh will help in increasing the demand for affordable housing in Urban India and besides giving fillip to various allied industries.

Chidamabaram's proposal to set up the Urban Housing Fund by National Housing Bank and allocating Rs 2,000 crore to the fund will further boost urban housing.

I do not see much impact from reducing the rate of abatement  for homes and flats with carpet area of 2,000 square feet or more or of a value of Rs one crore or more as this segment of buyers are not so price sensitive to property prices.

I also welcome the proposal by the Finance Minister to reduce the duty from 7.5 percent to 5 percent on specified machinery for manufacture of leather and leather goods and will benefit players like us.”