Budget Expectations 2017 for Real Estate Sector

Mr.Kishore Bhatija, MD – Real Estate Development, K Raheja Corp: "We are anticipating positive reforms to be announced for the sector in the upcoming Union Budget. We are hopeful that the Finance Minister addresses certain key issues such as easing tax reporting and Income Tax slabs as well as the IT SEZ Policy and clarity on the much debated GST.

Implementation of other policies like RERA, land acquisition policy and Benami Transactions Bill will infuse transparency and bring the much-needed credibility to the sector. Buyer sentiments are improving (post demonetization) as the banks are passing on the benefits to the customers by reducing the interest rates on loans. REITs too need to kick off, and the reduction in the cost of finance for both developers and buyers will make housing more affordable. All such policy reforms will give the realty sector the desired push."