Budget 2020 positive long-term solution: Realty sector

Budget 2020 positive long-term solution: Real Estate sector

Ravindra Pai.

By Mr. P Ravindra Pai

Union Budget 2020 has shown a positive long-term direction on reviving growth with Rs.1.03 Trillion spent on Infrastructure, Income Tax Cuts, DDT Exemption and Manufacturing focus. For the Real Estate Sector, it was a mixed bag. The extension of INR 1.5 lakh tax benefit and approval window for tax holiday on affordable housing are welcome steps. While the Rs. 25,000 crore stressed asset fund by the Government is taking off, specific measures to resolve the liquidity such as restructuring window for stressed projects or further tax benefits to individuals on housing across all segments, would have helped in boosting immediate demand and growth

(The author is MD, Century Real Estate Holdings Pvt. Ltd.)