Budget 2017 | Reaction from the Real Estate Industry | M3M Group, BDI and Elan Group

Posted by: at 2/01/2017 02:25:00 am
Budget 2017 | Reaction from the Real Estate Industry | M3M Group, BDI and Elan Group


 Ssumit Berry, Managing Director, BDI Group


Affordable Segment 

" This announcement is a landmark for the real estate sector which will open new avenues for the affordable housing segment. We welcome and appreciate this decision of government, it will help the sector get various benefits of infrastructure sector which was a long time demand of the realty industry.The new measure will reduce costs for developers and attract more investors. It is great push for the housing for all vision and will also benefit the first time buyers  "

Ssumit Berry, Managing Director, BDI Group


Luxury Housing Segment 

“We welcome the government decision to bring affordable housing in the infrastructure sector. Also, definition of Affordable housing changed to make it more practical to build and market.  Now, we can expect focus on building more affordable housing projects, also Rural Housing will get big push. The borrowing costs for the home buyers has already come down significantly. Time period for Long Term Capital Gain is reduced by 33%, with new base period. Many have been deferring their decisions to buy homes. All these factors will be considerably significant in helping to expedite their decision. This will make investment in the real estate sector lucrative providing a surge in consumption demand. Having said that Year 2017 will be the year of affordable housing.”

 Pankaj Bansal, Director,M3M

Pankaj Bansal, Director,M3M

Commercial Real Estate

"By granting infrastructure status to affordable housing, which was a long-time demand from the industry, the Budget 2017 has given a relief to both developers and investors. The cost of the developers will go down and attract the investors. The Finance Minister Arun Jaitley brought affordable housing under infrastructure sector, extending benefits to the people investing in building low-cost homes. This is expected to extend the sops to the segment of the public not already covered under the Prime Minister’s housing scheme".

Ravish Kapoor, Director, Elan Group
-Ravish Kapoor, Director, Elan Group
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