Avneesh Sood, Director, Eros Group

The government has yet again presented a Budget that will bring about a cheer to the masses. From favourable changes in the personal income tax structure to heavy investment plans for the infrastructure along with the according of infra status for the affordable housing segment and so much more, real estate sector is sure to directly and indirectly benefit from this budget in the near future.

Deepak Kapoor, President CREDAI-Western U.P. & Director, Gulshan Homz

Announcement of infra status for the affordable housing segment in the Budget will open up new avenues for the developers planning to offer budget housing units and will make it easy and comfortable for them to get finance from lending agencies.

Rakesh Yadav, Chairman, Antriksh India

The decision of granting infra status for the affordable housing segment along with the rebate in personal income tax announced by the government will provoke the developers to shift their gears and develop affordable housing projects; which is now sure to meet the demand as well. Overall, this budget looks quite favourable for the realty sector and its buyers in the long run.

Rajesh Goyal, Vice President CREDAI-Western U.P. & MD, RG Group

Amongst the major hits, the criteria for affordable housing has been changed from built up area to carpet area basis. This will allow affordable housing segment to look more lucrative for both, developers and buyers. With the income tax rebate for the first slab and affordable housing incentives in place, we will now observe the youth of the country looking out at realty sector as an avenue for investment or residing.

Abhishek Bansal, Executive Director, Pacific Group

The moment tax structure is simplified and relaxed, the spending power of people increases and this spending is directly contributed towards either savings or investments. Although, the young earning age in India is expected to spend and invest more rather than save, thus retail industry will witness increased footfall in the upcoming financial year.

Ashok Gupta, CMD, Ajnara India Ltd.

With a mammoth budget investment plan for the infrastructure of the country announced, various untapped regions will gain connectivity with major cities. In a nut shell, this budget will provide a massive thrust to India’s realty sector which has been picking up pace gradually over the years.

Ashwani Prakash, Executive Director, Paramount Group

Union Budget 2017-18 was likely to give some respite to the realty sector and it was highly expected that this sector might get industry status this year, but this has not happened. However, the FM has still taken an appreciable step in giving infrastructure status to affordable housing and increasing the scope of the same. The decision of increasing the period of completion for affordable housing projects from 3 to 5 years is also a welcome move.

Pradeep Aggarwal, Co-Founder & Chairman, Signature Global

Driven with the view to provide houses to all at affordable rates, government’s move to grant infrastructure status to the affordable housing segment in the country along with the relaxation especially in the first slab of the personal income tax will enhance the demand for the same. With the lending interest rates lowered and purchasing power increased, we will witness a steep rise in affordable housing demand across the country, which will now be well met with the upcoming supply.