NEW DELHI: Rural, Agricultural and Corporate Social oriented budget this year has been the Government’s focus which is indeed the need of the hour, according to Manoj Vishwakarma,Managing Director, Dotom Realty.
“Over and above, the Stamp Duty act has been placed on the platter for further discussion with state level that would ease the burden of end users in Real Estate segment.The surplus fund has been allocated towards affordable homes to match with the year 2022 target of housing for all. Otherwise, the budget has been very silent on the overall Real Estate industry,” said Vishwakarma.
“Decent budget has been allocated to boost the infrastructure & affordable housing of Rural areas in turn easing the load of metropolitan cities.MIG and HIG groups who are the major tax payers have been ignored in current budget leaving a sour taste. Upgrading their lifestyles will be challenging which would reduce the velocity of sales of homes in metropolitan cities.The scenario of 2017 has been extended to 2018 not enhancing much in Real Estate segment, carrying forward our hopes to 2019,” said Ketan Musale, Managing Director, Dotom Realty
The budgetary and extra budgetary expenditure for the Sector has been increased from Rs.4.94 lakh crore in 2017-18 to Rs.5.97 lakh crore in 2018-19. An all time high allocation of Rs 1,34,572 crore has been made for the transport sector while the efforts to develop disaster resilient infrastructure is being given a push with an allocation of Rs. 60 crore in 2018-19. This was announced by the Union Finance Minister, Arun Jaitley while presenting the General Budget 2018-19 in Parliament.