Will Budget 2013 give the Indian real estate market enough lift to help it kickstart a sagging economy? Historically around the world real estate and infrastructure are sectors that can add a lift to the economy when it stagnates.
Developers are keenly awaiting what the government has in store for the real estate sector this year. Would the sector be given an industry status? Will there be any rebate on taxes? Would infrastructural development be given a boost? Will affordable housing get a budget push? Will the Budget 2013 give clues to regulate the realty sector?
It is not only the realty industry that has expectations from the Union Budget 2013-14. Consumers too have their hopes pinned on this mega economic event. 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 on housing loans.