The Indian real estate sector had quite a few hopes from the budget 2013-14. Though through the current budget the finance minister Mr. P. Chidambaram had done much towards promoting Indian real estate, not nearly enough had been done to meet the demands of the real estate sector.The government has definitely taken some good steps. In order to solve the problem of housing deficit in the urban area, the budget has proposed to set up an Urban Housing Fund with an initial investment of Rs 2,000 crore in 2013-14. An allocation of Rs 6,000 crore will also be made towards setting up a Rural Housing Fund.The Urban Housing Fund which will be set up by the National Housing Bank will help in creating of new homes in the affordable housing categories.”The Urban Housing Fund has been created for the first time. We will be formulating a scheme for it soon. These funds will be utilized to give refinance to banks, housing finance companies and RRBs for their retail loans in urban areas and the thrust will be on lower loan slabs,” said RV Verma, chairman of NHB.According to government estimates there is a deficiency of 18.78 million homes in the country. 96% of these are in the economically weaker section and low-income groups. The lack of proper housing has resulted in the springing up of slums all over the country, especially in cities like Delhi and Mumbai.Rural lending institutions like the regional rural banks will be helped by the rural housing fund. As the rural banks would be able to lend more money, it will promote the development of rural housing.The budget also announced the construction of new roads in Gujarat, Maharashtra, Madhya Pradesh and Rajasthan. This is good news for real estate developers who would be looking forward to build townships along these roads.The budget proposal of deduction of interest of Rs 2.5 lakh for a loan of less than Rs 25 lakh has also been welcomed by many. However the real estate sector on a whole feels that this deduction is only meant for the lower income groups as most houses nowadays cost far above Rs 25 lakh.займ на карту без отказов круглосуточновзять кредит онлайн