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Indian Real Estate News
Union Budget 2012-13 can be a turnaround story for Real Estate sector: Ravi Saund
Source: Source: IRIS Feb 29, 2012

Real estate is the prime mover of the Indian economy and has a major role to play in the India Growth story. It is high time when it gets the required fillip and the much awaited industry status. Union Budget 2012-13 can be a turnaround story for the sector, said Ravi Saund, COO, CHD Developers.

I am quite optimistic and anticipate that the Union Budget 2012-13 will bring in reforms that will energize the entire sector, he added.

Following are the expectations from Union Budget 2012-13 for Real Estate sector from Ravi Saund, COO, CHD Developers:

Create national level Real Estate Regulatory Authority for introducing transparency.

Enact the Model Real Estate ( regulations & development ) Act.

Introduction of Single Window Clearance System

It is necessary to continue last year's 1% interest rate subsidy that was provided for loans towards affordable housing. But the scope of this subsidy should be broadened include a wider price range of budget housing to eventually benefit the end consumer, especially in the Middle and Lower middle income group. The interest rate subsidy should be increased to loans up to Rs 50 lakhs and income tax exemption to be increased to Rs 3 lakhs.

Lower interest regime by reducing

tandard Operating Procedures for funding in Real Estate.

Tag: Real estate in india, India properties, property in india
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