Budget is Forward Looking & Growth oriented
Welcoming the Union Budget proposal for FY18, it is ‘forward looking’ and ‘growth oriented’. The Finance minister has ensured the affordable housing demand gets a shot in the arm. With proposed changes in tax exemption on low cost housing up to carpet area 60 sq. meters and getting the affordable housing under the infrastructure status will bring in foreign investments and funds from banking sector at lower costs which will strengthen demand in the real estate sector. Furthermore reduction in Income tax rate in the lowest slab will help put more money in the hands of the people and when offered with the incentives on affordable housing will provide significant demand in the affordable housing segment.
With the criteria for affordable housing being changed from built-up area of 30 & 60 sq mts to carpet area of 30 & 60 sq mts, will make affordable housing segment attractive for buyers as this means more spacious homes and a larger market for the developer to promote.
