Kushagr Ansal, President, CREDAI Haryana.
NEW DELHI: The budget has brought relief to the health, education and agriculture sector; however, overall expectations of the realty sector were high which have not been met, according to Kushagr Ansal, President, CREDAI Haryana.
The Union Minister for Finance and Corporate Affairs Arun Jaitley has presented the General Budget 2018-19 in Parliament today.
“In a move to boost the affordable housing demand, the government has announced to establish a dedicated Affordable Housing Fund (AHF) in National Housing Bank which is positive for real estate sector. There has been allocation of funds for infrastructure development which includes construction of road networks and setting up of urban and rural clusters,” said Ansal.
“Affordable housing has been given a fair share. This would kick-start the real estate in Tier 1 and Tier 2 cities along with new mushrooming areas in major cities as well. Increased investments and number of airports may boost Aerotropolis projects,” he said.
“This is likely to impact commercial as well as a residential sector in the country. Much to our disappointment, Industry status and single window clearance system could have been the biggest game-changing reforms for real estate sector which were not even mentioned in the budget,” he added.