Quote from Mr. Mohit Goel, CEO, Omaxe Ltd. on Pre- Budget expectations for Real Estate sector:
We expect the upcoming Budget to kick start the pending reforms in infrastructure and real estate. While these two have multiplier effect on dependent sectors like cement, steel etc, its surge will reflect in the overall GDP growth. As for the real estate sector, we expect the Budget to grant infrastructure status to real estate sector with single window clearance, tax incentive for affordable housing, removing roadblocks in land acquisition bill, faster approvals, interest subvention for affordable housing upto Rs 40 lakh etc are some of the short-term measures that can be taken. In the Government’s agenda of building 100 smart cities, the private developers can be expected to play a greater role.