Project fraternity shares view post Finance Minister’s announcement

 

Bhushan Nemlekar - Director, Sumit Woods

 

"The Central Government has taken a step in the right direction. Looking at the current market condition, many developers with ready inventory will be able to sell as the prices have actually been corrected in large parts of urban areas in India. I hope we see improvement in sales in the next one year. This. income tax incentive will stimulate demand for buying homes. This is a welcome move and we are optimistic that the Government will introduce more proactive steps for giving additional relief to boost the real estate industry."

 

Shivpriya Nanda (Partner) at J Sagar Associates

 

“The announcement of  relaxation in income tax rules to allow sale of primary residential units costing upto two crore below circle rate  upto 20 percent will provide the much needed shot in the arm to the real estate sector coupled with low interest rates. However if the stamp duty is aligned with this it will definitely be an icing on the cake.”