We expect the finance minister to provide specific tax incentive and rationalize stamp duty registration charges which will lead to further investment in affordable housing projects which would in turn drive urban development. The budget should make high-priority provisions for the laying down of the necessary infrastructure so that new areas can be opened up. This should result in creating and linking up satellite settlements to main cities that will help tackle the demand-supply mismatch. Further, we look forward to flexibility in FDI norms and as well as forward momentum for REMFs as good alternatives to address the issue of capital funding requirements for high end projects.” “Additionally, the budget should offer clarity on the introduction of a real estate regulator, since this would result in higher levels for transparency imperative; which is expected from India who is now undoubtedly a member of the global village. This regulator may not necessarily decide on rates, but should put down firm principles in terms of property dealings and also quality parameters in terms of rating of constructions. We are confident that with the appropriate policies and infrastructure in place, real estate will continue to see good residential demand, especially in metro cities like Mumbai.
Abhisheck Lodha
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