Rohit Kishore, Director & COO, Lotus Greens India
The budget is focused on agriculture, education and rural economy emphasising on rural infrastructure, roads and job creation for the rural people. However, other aspects seems positive and we hope that this will lead to accelerated economic growth leading to the growth in the real estate sector
Once again, major disappointment was the non-granting of the industry status to the sector. However, the deeper logic of the budget favouring real estate consist of the following:
- Long term capital gains are subject to capital gains tax t 10% from now on rendering investment in real estate more attractive than ever before.
- Senior citizens and salaried employees receiving tax breaks giving them money in to go and buy a house
- Push on infrastructure comprising public investment in rural areas, agriculture, urban connectivity particularly metros etc multiply investment prospects for real estate sector