Live
- Governor Abdul Nazeer pays tributes to Pandit Nehru
- AP Assembly session continues for fourth day, discussion on budget today
- YSRCP leader Gowtham Reddy booked for attempt to murder
- Chief Minister A. Revanth Reddy Extends Kartika Purnima Greetings
- CM A. Revanth Reddy Wishes People on Guru Nanak Jayanti
- Wanaparthy District: On Friday morning, a tourist bus lost control and went into the crop fields on National Highway
- Green buildings essential for sustainable development: Khandre
- Basavanagudi Kadalekai Parishe: Govt gives good news to groundnut traders
- Yanamala blames YSRCP policies for collapse of state economy
- Call to inculcate habit of reading books
Budget 2017 - Reaction from the Real Estate Industry - M3M Group, BDI and Elan Group
This announcement is a landmark for the real estate sector which will open new avenues for the affordable housing segment. We welcome and appreciate this decision of government
Affordable Segment
" This announcement is a landmark for the real estate sector which will open new avenues for the affordable housing segment. We welcome and appreciate this decision of government, it will help the sector get various benefits of infrastructure sector which was a long time demand of the realty industry.The new measure will reduce costs for developers and attract more investors. It is great push for the housing for all vision and will also benefit the first time buyers "
Ssumit Berry, Managing Director, BDI Group
Luxury Housing Segment
“We welcome the government decision to bring affordable housing in the infrastructure sector. Also, definition of Affordable housing changed to make it more practical to build and market. Now, we can expect focus on building more affordable housing projects, also Rural Housing will get big push. The borrowing costs for the home buyers has already come down significantly. Time period for Long Term Capital Gain is reduced by 33%, with new base period. Many have been deferring their decisions to buy homes. All these factors will be considerably significant in helping to expedite their decision. This will make investment in the real estate sector lucrative providing a surge in consumption demand. Having said that Year 2017 will be the year of affordable housing.”
Pankaj Bansal, Director,M3M
Commercial Real Estate
"By granting infrastructure status to affordable housing, which was a long-time demand from the industry, the Budget 2017 has given a relief to both developers and investors. The cost of the developers will go down and attract the investors. The Finance Minister Arun Jaitley brought affordable housing under infrastructure sector, extending benefits to the people investing in building low-cost homes. This is expected to extend the sops to the segment of the public not already covered under the Prime Minister’s housing scheme".
-Ravish Kapoor, Director, Elan Group
