Atul Banshal, President Finance & Accounts, M3M India Private Limited shares his expectation from Union Budget 2016.
The real estate sector has been on a roller coaster ride ever since the economic slowdown in the latter half of last decade. However, in the recent past, it seems to be coming back on track. The government policies and legislations are responsible for the turn of events. The Union budget is eagerly awaited by everyone; the reason is that the policies announced have an impact till the start of next financial year. (Also Read: Union Budget 2016: Here’s what Arun Jailey should do to boost power sector)
Thus positive or negative, it is bound to impact anyone and everyone from whatever industry they are. The fact that real estate is on a recovery mode this year’s budget is very much crucial for the realtors. Home buyers should get financial protection in case of project delays. Additional allocations should be made for infrastructure development in peripheral areas of metros. We also expect the removal of Dividend Distribution Tax bottleneck to induce formation of Real Estate Investor’s Trust. Also, the clarity on GST implementation and use of e-commerce would be a welcome step in the market scenario which is slowly and steadily turning digital.”
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