Quote of Gagan Banga, Vice Chairman and Managing Director, Indiabulls Housing Finance on Union Budget 2017

“The Government is on a fast track mode - building a sustainable ecosystem for both developers and home buyers. With the Infrastructure status bestowed upon the affordable housing segment, the cost of borrowing is expected to reduce for developers, thereby boosting the supply of affordable houses in the country. Furthermore, by increasing the PMAY allocation to 23000 crore, redefining affordable housing by carpet area & the previously announced subsidies, the government has laid down its intention to provide Affordable Housing the best possible boost. Also allowing property owners the benefits of capital gains after two years will also boost ownership in a country where real estate is still the most trusted investment option. This is a great budget for stakeholders across the Housing Sector.”