Union Budget 2019: Real estate industry, IT sector, others list expectations
Shivam Sinha, Founder and CEO, Indiassetz: “We are hoping that this interim budget will bring some relief to both the developers as well as buyers. Rationalisation of the taxes on real estate and streamlining of taxation norms will make it more attractive and incentivised for people to invest in this sector. We expect the budget to focus on facilitating smart city growth and infrastructure. Real estate holds immense potential and investment opportunities as it addresses the future challenges of the society and also goes a long way in boosting the socio – economic confidence and willingness to invest in the minds of the people.
“We look forward to structural incentives, funding announcements in the upcoming budget and a convincing game plan to ensure that the allocated funds are utilized as specified, within a specified deadline. We expect the government to provide interest rate subvention for first home buyers and generate separate income tax exemption limit for EMIs on housing to make housing affordable for the middle class. We also expect the government to increase the home loan caps eligible for subsidy and abolish angel tax for Government recognized start-ups.”