What do real estate investors get from Budget 2018?
This Budget 2018 mainly focused on health, infrastructure development and agriculture among others. The announcements for the affordable housing sector pleased the real estate sector. Hence, it was found out that affordable housing would get more priority this time and cities like Kolkata, Delhi, and Ahmedabad would be greatly benefited. The real estate sector sees Union Budget 2018 as a balanced one with focus on affordable housing.
Real estate investors to enjoy benefits –
- The standard deduction will bring a sigh of relief to the potential buyers and will allow them to have higher purchasing power when it comes to real estate investment. Hence, apartments in Kolkata will be available at affordable rate and the developers will also have to be transparent with the offers they are providing. This has actually allowed developers to access institutional credit and reduced cost of borrowing for affordable projects.
- Conventions pertaining to digitalized transactions will also provide transparency in the ambit of Indian Real Estate. This will facilitate fair play for organized players and will also curb the fraudulent practices at the same time. They fair transactions will make things easier now. Buy apartments in Kolkata with all the legal activities done and transacted in front of you. Things have to be that lucid and fair enough.
- Various infrastructure projects and a special thrust to affordable housing announced in the Budget are expected to open up new avenues for the real estate investors. Most importantly, nearly 31 lakh homes will be constructed in the urban while 49 lakh homes will be built in rural areas under the Pradhan Mantri Awas Yojana which is like a boon for the real estate investors.
However, many of the expectations real estate investors had from the Union Budget 2018-19 have not been fulfilled. Yet, there are many such undertakings that will actually show the productivity rates go notches higher for the developers. The government is upbeat about infrastructure development with a massive investment estimated to be in excess of Rs. 50 lakh crore. This major plan will be profitable and that is a massive decision taken on the part of the government.