Please attribute the given quotes to Samir Jasuja, founder and chief executive officer at PropEquity, a real estate data, analytics and intelligence firm
• We hope the central government in this budget will grant an industry status to the real estate sector. In our view this will enable the sector to raise debt from financial institutions and foreign institutional investors (FIIs) at a much lower rate thus partly relieving the liquidity crunch crisis.
• We look forward to the continuation of tax holidays on affordable housing, and hike in interest on home loan deduction limit from Rs 1.5 lakh to Rs 3 lakh for first home buyers as that will help in triggering housing demand. The government should also provide adequate basic infrastructure and develop other sub cities across India that may lead to better housing demand for affordable projects.
• We expect interest subvention of 1 per cent to be continued on home loans. Keeping in line with the trend over the last two budgets, we hope that the eligible value will be risen from Rs 25 lakhs to Rs 30 lakhs (cost of the flat) on home loans of up to Rs 20 lakhs, as cost of raw materials and interests rates have also increased considerably in the last one year.
• The development community has been lobbying for a mechanism of a single window clearance for real estate projects. We hope to hear some announcements being made to address this issue.
• The government should allow FDI in smaller real estate projects which are currently excluded from the existing FDI Policy on real estate. However, there should be firm regulations to prevent the funds from being re-routed to pay off other developer’s debt or for funding other projects
PropEquity is India’s leading Real Time Data, Analytics, Real Estate Business Intelligence and Research Company tracking over 45,000 projects of 8,500 Developers across all Asset Classes in Real Estate.
We are soon launching India’s biggest initiative in the field of Real Estate Research for Consumers helping them make informed investment decisions through our unique offering of One Click Report, which will be an indispensable tool in the hands of a consumer.
PropEquity has over 100 prestigious Institutional Clients including Developers, Private Equity Funds, Industries related to Construction, Banks and Equity Research Firms.
PropEquity operates five verticals 1) Data, Analytics and Research & Consulting, 2) Collateral Risk Management for Banks, 3) Realty Indices including the Housing Start up Index (HSUI), 4) B2C platform offering One Click Report, and 5) Catchment Area Analysis.
More information can be found online at http://propequity.in/press-releases/real-estate-propequitys-2012-13-pre-budget-expectations.aspx