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 Sobha Group’s pre-budget expectations from Jaitley.
1. In recent years, for individual home buyers, prices have continued to increase by approximately 7-10% per year. From our perspective, we would like to see the government increase the income tax benefits to this group of home buyers.
2. When we consider the affordable housing segment, we would be delighted to see income tax benefits that can be extended to corporates when they expand through new construction.
3. Given the introduction of the Goods & Services Tax (GST), homes will also now attract a tariff. From our perspective, it would be beneficial if home buyers can come under the lowest possible slab of the GST, thereby enabling greater affordability for potential home buyers.
4. The “Housing for All” initiative needs strong private sector support to achieve its intended objectives, which I am certainly aligned with.
PNC Menon – Founder Chairman, Sobha Group