‘’The real estate sector is very optimistic about the upcoming budget in 2020 as we hope that it will include provisions to provide immediate relief to all the industry stakeholders. We expect the upcoming budget to hold provisions to restore the faith among the developers by including the long-awaited measures like the introduction of dedicated Single Window Clearance system for speedy clearances and approvals of the projects. For the homebuyers, we expect the budget will include additional income tax deductions for the customers buying housing units under the affordable segment. Indian real estate needs to be made more attractive to foreign investors and the budget is an ideal platform to announce further incentives that will attract more foreign investments into Indian real estate. The realty sector expects support on skill development initiatives, as it requires skilled workers to handle technology and new-age tools. Moreover, the entire real estate sector should immediately be granted industry status to make it eligible to avail finances from banks on lower interest rates. However, we expect this budget will further help in providing the much-needed fillip to the housing segment.’’
