Budget 2015: “Major Impetus to Infrastructure”
Mehul Thakur – Director, Viva Homes
“The Union Budget 2015-2016 has provided a major impetus to the Infrastructure sector. Extension of these benefits to the real estate sector, especially to the affordable housing segment would have helped achieve the goal of housing for all.
Focus on implementation of GST by April 2016 and reduction in corporate tax and benefits to middle class tax payers have been at the forefront of the new government’s agenda. We are happy that contribution to REITs is exempted from capital gains. Setting up of Benami property transaction bill to tackle black money transaction in real estate is also a welcome move by the industry.”
Ravi Saund, COO, JMS Buildtech Pvt Ltd
“The issues pertaining to real estate are deeper and more inherent than any other industry. Resolving these issues involves fiscal adjustments to key real estate-linked policies and may even require constitutional amendments. This budget was aimed for synergising the basic issues pertaining to human development and economic welfare. As the developers community we anticipated a constructive road map that would resolve the stumble blocks in the path of real estate development.
Apart from 70, 000 crore disposable funds for the infrastructure sector, ‘Benami’ property transaction bill to tackle black money transaction in real estate and deferred GAAR implication was the share of pie for real estate sector.”
Gaurav Mittal, Managing Director, CHD Developers Ltd
“The decision to facilitate a funding of Rs. 70,000 crore will boost the development of infrastructural sector which will further beef up the growth rate of real estate sector as a whole, introduction of Benami property transaction bill to narrow in the unscrupulous funding activity is a great move to augment the industry status, further contribution of REIT exempted from capital gains and GST implication by 2016 thereby, adding another feather in the cap for this sector intending to attract more offshore investment. However collating all the measures discussed today is a poised budget cantered around holistic development of the economy as a whole.”
