Finance Minister has many never before announcements for the real estate. Above all, we believe that the nation building potential of the real estate sector stands recognized fully for the first time. Finance Minister has restored the dignity of the real estate sector by his measures. On the whole, I feel is that real estate can now play its role as a game changer for the entire economy and help India climb into double digit growth era.
We salute the Hon’ble Finance Minister for according Affordable Housing industry the status of infrastructure. We do not just build houses, but clean and healthy habitats and deserve this treatment. Associated benefits would help us contribute to the cause of Housing for ALL. This is the most important path breaking announcement of the Budget with regard to the real estate sector.
Measures such as enlarging the definition of Affordable Housing on the basis of carpet area would go a long way in improving the look and feel of our cities as small 30 square meter units were incapable of serving the aspirational needs of our people.
Real estate industry is an important store of wealth for most people. In fact it is the only asset most persons would ever own. Therefore, the long term capital gains tax benefit being made available after two years, helps improve net worth of individuals and hopefully also marketability of their real estate assets.
Section 80IBA benefits were available so far if affordable houses were completed in three years. AS approvals themselves take up to 2 years, extension of benefits to five years is a rational measure which would provide the much needed tax incentive to affordable housing.
Jaxay shah
Preside Elect ( Credai )
Finance Minister has many never before announcements for the real estate. Above all, we believe that the nation building potential of the real estate sector stands recognized fully for the first time. Finance Minister has restored the dignity of the real estate sector by his measures. On the whole, I feel is that real estate can now play its role as a game changer for the entire economy and help India climb into double digit growth era. We salute the Hon’ble Finance Minister for according Affordable Housing industry the status of infrastructure. We do not just build houses, but clean and healthy habitats and deserve this treatment. Associated benefits would help us contribute to the cause of Housing for ALL. This is the most important path breaking announcement of the Budget with regard to the real estate sector. Measures such as enlarging the definition of Affordable Housing on the basis of carpet area would go a long way in improving the look and feel of our cities as small 30 square meter units were incapable of serving the aspirational needs of our people. Real estate industry is an important store of wealth for most people. In fact it is the only asset most persons would ever own. Therefore, the long term capital gains tax benefit being made available after two years, helps improve net worth of individuals and hopefully also marketability of their real estate assets. Section 80IBA benefits were available so far if affordable houses were completed in three years. AS approvals themselves take up to 2 years, extension of benefits to five years is a rational measure which would provide the much needed tax incentive to affordable housing. Jaxay shah Preside Elect ( Credai )
