Budget 2020: Real estate sector urges govt to provide infra status; boost demand to address liquidity, stress issues
FirstpostThe realty industry is looking to draw the government’s attention towards needs to take steps to boost liquidity, lower stamp duty, incentivise rental housing and affordable segment, rationalise taxation and lower home loan interest rates. Ketan Musale, Director, Dotcom Realty 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. 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. Rohit Poddar, MD, Poddar Housing and Development Ltd. and Joint Secretary, NAREDCO Maharashtra Currently, the real estate sector is reeling under the impact of rise in unsold inventories and lack of liquidity. Although the combination of multiple repo rate cuts, corporate tax reduction, introduction of Partial Credit Guarantee Scheme, setting up of Rs 25,000-crore AIF to provide last-mile funding to developers and establishment of Rs 102 lakh crore roadmap for infrastructure will help in mobilizing the real estate sector, yet the gap to be bridged is enormous.