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This Budget has been quite a dampener. Perhaps the Government wants to bring in changes over the next five years and it is not possible to do everything at one go.

Real estate continues to not attract the attention of the Finance Minister. It is a huge disappointment. This year was a good opportunity not only to give sufficient impetus to the developers but also greater incentive to customers.

The proposals signal a huge boost for infrastructure spending and with development of roads and highways, development of dwelling units would go a long way in decongesting the overcrowded cities and towns. Taxes in various forms and prolonged processes in obtaining clearances take away substantial portion of the costs making it unaffordable for the customers. Lop sided infrastructure development will not help the economy grow. It has to be balanced.

With such a large population in India, the demand for affordable housing is inevitable. The Government has to take some bold steps and bring in reforms to enable the real estate sector produce housing at affordable costs.

K. Ravishankar,

CEO, Akshaya Homes

More Stories on : Budget | Real Estate & Construction

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