It is not only the industry that has expectations from the Union Budget 2013-14. Consumers too have their hopes pinned on this mega economic event. MagicBricks.com conducted a small survey to find out what masses expects from the government and spoke to industry experts to know what kind of Budget would be ideal for consumers.
Among the major concerns that consumers highlighted are low tax exemptions on housing loans, allocation of funds for infrastructural developments across the country, funds for EWS housing and a hike in the ceiling for subvention schemes and special rebates for smaller loans. However, the concern common to most consumers happens to be the high interest rates of housing loans.
The buyers need a higher disposable income along with a purchase. Manoj Goyal, director, Raheja Developers says, "If the government increases the home loan exemption limit from Rs 1.5 lakh to 3 lakh, it would greatly help in providing a thrust to housing demand in the country."
Taking on a similar line, Neeraj Gulati, managing director, Assotech Realty Pvt. Ltd says that, "The recent decision by RBI to reduce the CRR and the repo rate will help in sustaining the economic growth and at the same time will offer relief to consumers. While bringing liquidity in the market, it will also help in curbing the price escalation to a certain extent." These measures have become the need of the hour to spur demand for affordable projects realty market.
Sanjay Dutt, executive managing director, South Asia Cushman & Wakefield says, "There is a need for effective and focused efforts to bridge the gap between demand and supply in the affordable housing segment. The government needs to look into providing additional fiscal incentives such as tax concessions on building materials, technology and services to decrease construction costs, and provide more income tax relief to buyers of affordable housing units."
Among the major concerns that consumers highlighted are low tax exemptions on housing loans, allocation of funds for infrastructural developments across the country, funds for EWS housing and a hike in the ceiling for subvention schemes and special rebates for smaller loans. However, the concern common to most consumers happens to be the high interest rates of housing loans.
The buyers need a higher disposable income along with a purchase. Manoj Goyal, director, Raheja Developers says, "If the government increases the home loan exemption limit from Rs 1.5 lakh to 3 lakh, it would greatly help in providing a thrust to housing demand in the country."
Taking on a similar line, Neeraj Gulati, managing director, Assotech Realty Pvt. Ltd says that, "The recent decision by RBI to reduce the CRR and the repo rate will help in sustaining the economic growth and at the same time will offer relief to consumers. While bringing liquidity in the market, it will also help in curbing the price escalation to a certain extent." These measures have become the need of the hour to spur demand for affordable projects realty market.
Sanjay Dutt, executive managing director, South Asia Cushman & Wakefield says, "There is a need for effective and focused efforts to bridge the gap between demand and supply in the affordable housing segment. The government needs to look into providing additional fiscal incentives such as tax concessions on building materials, technology and services to decrease construction costs, and provide more income tax relief to buyers of affordable housing units."
Are you Looking for Properties in
Delhi NCR Check the below links to know in detail
No comments:
Post a Comment