Real estate players line up demands from Budget ‘10

14 Feb 2010, 0416 hrs
  Pallavee Dhaundiyal Panthry,

Developers are re-calculating the upwards swing in the real
 estate industry, especially housing, provided Government
 pays special attention the
sector. Various developers voice their expectations
from Budget 2010.

AVNISH AGRAWAL, DIRECTOR, MERITON GROUP

Talking from common man's perspective, the bank interest
rates should be stabilised. Most importantly, stamp duty
 should be reduced as it puts financial burden on the buyers;
it would be a real relief for the common man who has to bear
the burden. Besides, for the new projects many clearances are
required; if they can be done through a single window,
 it will be a major breakthrough.

VIJAY JINDAL, CMD, SVP GROUP

Expectations from the budget are very high. We
need something that will help the real estate sector
 to grow leaps and bounds. Government should take steps
 to bring more transparency and simplicity to the processes
 involved in the real estate. Affordable housing must get
maximum support from the government. The authorities must
understand that the demand is for affordable housing and
 we need to bridge gap between demand and supply.

ABHISHECK LODHA, MANAGING DIRECTOR, 
LODHA DEVELOPERS LIMITED

We expect the finance minister to provide specific tax incentive
and rationalise stamp duty registration charges, which will
lead to further investment in affordable housing projects,
which would in turn drive urban development. The budget
 should make high-priority provisions for the laying down
 of the necessary infrastructure so that new areas can be
opened up. This should result in creating and linking up
satellite settlements to main cities that will help tackle
 the demand-supply mismatch.

Further, we look forward to flexibility in FDI norms.
 Additionally, the budget should offer clarity on the
introduction of a real estate regulator, which may not
necessarily decide on rates, but should put down firm
 principles in terms of property dealings and also
quality parameters in terms of rating of constructions.

RAJIV SINGLA, MANAGING DIRECTOR, MAPSKO GROUP

Indian real estate sector is passing through a transition
 phase, where every eye is lying on budget 2010 as the tool
 to heal the loss. The finance minister needs to focus on
offering easy interest rates with more flexible EMIs so that
 middle class people can come forward to buy their dream house.
 We should also target foreign investors or NRIs to invest their
 money in India.

Ashwini Prakash, executive director, Paramount Builders

I expect a lot from the budget 2010-11 as it can be used as an
important step by our government to bring real estate market back
on the track. I strongly feel that finance minister would certainly
 work on promoting real estate investment through various
 fiscal tools like, continuing income tax rebate on home loans.

And at the same time interest rate on home loans should be
made more affordable to bring it up to the reach of a common man.
 In the last two years IT sector and the real estate sector
have been the most affected areas and in order to reconcile
the earning capacity and to build a sense of security for
 citizens the government should offer some aid packages to
these sectors in Budget 2010 like the US government did.

J K JAIN, CHAIRMAN, DESIGNARCH

The budget must think seriously on decreasing the excise duty
 to decrease the costs of infrastructural projects.
The current economic situation requires the sector to be
 revived so that the demand for the housing industry increases.
To achieve this, the government must look at reducing the
property and related taxes along with the taxes on cement and
steel, which together contribute to the growing infrastructure
needs.