Heavy Hopes from Budget 2013-14

budget-2013-14The days are getting nearer and the regulators of market are breathing heavily in hopes they have from the union budget 2013-14. This is a time when the columns of news section are filled with the budget expectations and foretelling. The real estate industry has prepared a long list of clauses that they want the ministry to include in the upcoming budget. The major bodies that hold all these hopes are builder group like CREDAI and other organizations like Federation of Indian Chamber of Commerce and Industry (FICCI) and National Real Estate Development Council.Basic factors that these bodies want to include in the solid papers of budget are infrastructure status for the housing sector, check on the prices of raw materials, and easier fund availability, quicker clearances on land, liberal external commercial borrowings, lowering of home loan interest rates.The real estate sector contributes to 5% of GDP and that’s not less. The developers’ body presumes that if all the anticipated factors mentioned will get the nod from the ministry then again the time will come when the lethargy in the sector will be banished and the estate economy will run.But what is really important at present is the preference that should be given to the affordable housing units and its builders. We know the quantity of this section is very less and if certain clauses that can help builder (who are in affordable house construction branch) get amended then it’s a victory for the real estate sector and the budget. People say this could be a dream budget. Well, it may be.

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