Wednesday, July 8, 2009

Real estate promoters not enthused Assetventures

While the Union Budget revolves around the aam aadmi' the real estate promoters feel that the finance minister has overlooked housing
requirements. None of their expectations have been met, like tax exemptions on housing loans to infrastructure status for integrated townships (Sec 80-1A) and reduction in housing loan interest rates, said the head of aninternational real estate consultancy firm in the state.

But on the positive side, the budget focuses on infrastructure and providing more funding especially for highways and railways. Increase of fund allocation for the JNNURM scheme (Jawaharlal Nehru National Urban Renewal Mission), an excellent scheme, with 87% encouragement respectfully. These outlays will turn outcome if the government implement the infrastructure projects on time,he felt.

Another industrial leader was optimistic that, "The hike in infrastructure spending will be a huge boost for the real estate industry. Any increase in the spending on infrastructure results in an increase in value of real estate development.

No comments: