Business Today spoke to Dhruv Agarwala, Co-Founder, PropTiger.com on steps he expects the FM to take in Budget.
1. The real estate industry has high expectations from this Budget to help them to pull out of the downturn over the past two years.
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2. The biggest expectation is around infrastructure development, i.e., roads, flyovers, metro trains, in our major urban centres as they are facing acute infrastructure constraints. We have already seen the positive impact of infrastructure development, such as Noida Expressway, Yamuna Expressway, Eastern Freeway (Mumbai), Delhi Metro on their respective real estate markets.
3. The government's plan of augmenting infrastructure in existing metros and creating 100 new smart cities shows its seriousness towards infrastructure.
4. Another expectation out of this Budget is policy support to incentivise affordable housing and permit higher tax exemption limits on interest and principal repayments for home buyers.
5. Lastly, the real estate industry looks forward to being accorded infrastructure status which would allow banks to increase their funding to the sector.
As told to Manu Kaushik