Budget 2019 Reactions: Impetus To Affordable Housing Is Positive Sign, Says Mr. Sankey Prasad, CMD, Synergy Property Development Services


    Share post:

    By Mr. Sankey Prasad, Chairman and Managing Director, Synergy Property Development Services

    The real estate industry laid down a lot of expectations from the interim budget. Although aspects such as infrastructure status to the industry, and structured single-window clearance among others, weren’t met, the Union budget 2019-20 in its entirety took into account a host of other issues aimed to propel the economy into a 10 trillion dollar economy. This is a positive sign.

    The steps taken can percolate into direct & indirect benefits to the housing sector.  The impetus on affordable housing is once again visible.

    I believe the proposal to extend Income Tax benefits for affordable housing schemes, coupled with doubling NIL Income Tax slab from 2.5 to 5 lakhs, will definitely be an impetus to the affordable housing sector. Also, exemption of tax on notional rent, on unsold inventories up to 2 years will provide relief to the developers on the short term and will help them to focus on newer projects.


    Please enter your comment!
    Please enter your name here

    Related Posts

    Latest posts

    North Bangalore: The Rising Star of Silicon Valley

    By Bhavesh Kothari, Founder & CEO, Property First Bengaluru, India's hub of technology and innovation, has earned the nickname...

    Evolution of Jammu and Kashmir Real Estate Post Article 370: 2019 to 2024

    Impact of Article 370 Revocation on Property Prices and Real Estate Sector in Jammu and Kashmir The revocation of...

    Real Estate Reality Check: Is Rs 5 Crore the New Standard Over Rs 1 Crore?

    In today's bustling Indian cities, the real estate landscape is undergoing a significant transformation. What was once considered...

    Delhi RERA chief warns real estate developers (About investors Trap)

    Real estate developers need to watch out for investors who might disrupt their finances and cause their projects...