NEW DELHI (INDIA): India’s Finance Minister Arun Jaitley is all set to present the Union Budget for 2017-18 on 1st February.This would be his third full-year Budget. So all eyeballs on his briefcase, what Jaitley is going to present for India.
Lets go through Duville Estates’s pre-budget expectations from Jaitley.
“We look forward to the implementation of the Real Estate Regulatory Authority Bill (RERA) which will bring in more transparency and professionalism into the sector. It is a positive move for developers with an established corporate governance practice. RERA coupled with GST and demonetization will create a strong framework within which this industry will function. It will create a clear demarcation between reputed developers and those with less respect for corporate governance thus making it easier for investors to invest with comfort. This can only create a more conducive environment for foreign investors to invest.
Housing for All and Affordable Housing have been major announcements of the government for the real estate sector in 2016. It would need strong private sector partnership to succeed and achieve its goal. It’s time now to expand these concepts and increase the benefits for other segments of the population as well. Industry status for the realty sector has been long awaited and it would be a game changer if approved this time. Overall, it is expected that Union Budget 2017-18 will be a common man’s budget where optimistic changes in the income tax structure is predicted.”
Tushad Dubash, Director, Duville Estates