Deepak Kapoor, President, CREDAI Western Uttar Pradesh
NEW DELHI :The Union Budget 2019 has focused on some key issues which is somewhat positive for real estate sector. In some major declarations made in the budget regarding infrastructure development, it is clear that government is keen to give a boost to urban housing segment,” according to Deepak Kapoor, President, CREDAI Western Uttar Pradesh (UP).
“Increased investment and number of airports will lead to several aerotropolis projects, like development of office buildings, shopping malls, hotels, entertainment complexes, manufacturing, assembly, logistics and warehousing facilities around the airports. This is likely to impact residential as well as commercial sector,” said Kapoor.
“The reintroduction of standard deduction after many years of Rs. 40,000 a year is a welcome move by the government. This
may really enthuse taxpayers. Reduced corporate tax by 25 percent extended to companies, with a turnover of Rs 250 crores to benefit small, micro and medium enterprises will give relief to builder fraternity,” added Kapoor.
“Many issues related to health, education and agriculture have been addressed which is good. But his budget may not really encourage homebuyers. The biggest disappointment was that the real estate did not get the infrastructure status which was the long pending demand of this sector,” he added.
The Union Minister for Finance and Corporate Affairs Arun Jaitley has presented the General Budget 2018-19 in Parliament today.