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  1. Union Budget: ‘Hope govt grants industry status to realty sector’

Union Budget: ‘Hope govt grants industry status to realty sector’

Govt has shown an inclination to support the real estate sector, but a lot has to be done to head back on the growth trajectory...

New Delhi | Updated: February 12, 2015 3:36 PM

Pre-Budget expectations from R.K. Panpalia, MD, Wave Infratech:

“We certainly hope for a transforming budget. Although, the government has shown an inclination to support the real estate sector, a lot has to be done to head back on the growth trajectory. We hope that the government to grant an industry status to the real estate sector. In our view this will enable the sector to raise debt from financial institutions and foreign institutional investors (FIIs) at a much lower rate thus partly relieving the liquidity crunch crisis.

Also, considering the increasing furor about delayed housing projects, a single-window clearance would help boost the sector in the long run. That said the need for a real estate regulator is also of prime importance and should be considered by the government as well. Moreover, there is a need to give boost for people to start investing in the housing sector. A simple step like giving 3 years fixed rate housing loan at 8% will be beneficial in the said direction.”

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Tags: Union Budget

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