‘Affordable’ remains the government’s favourite in housing

By Dr Niranjan Hiranandani President Naredco  Marathon Budget 2020 has set a positively direction tone but failed to announce much awaited economic stimulus to fuel kickstart of $5trillion economy. It subsequently lacked incremental allocation inadequacies with over emphasis on fiscal prudence and inflation target. With economy in doldrums and acute slump in consumption ,efforts on demand creation incentives went missing. The labor intensive real estate sector which had pegged hope on additional liquidity infusion, tax reforms and rental housing were overlooked in the budget. Any fiscal measure in sluggish real estate sector could have provided a fillip. Wherein, tax benefits extended to both homebuyers and Developers in affordable housing sector will encourage more launches in this segment. Also, abolishing of dividend distract and opening of International bullion market scores eyeballs for global investors to draw investment in Indian IFSC".