Industry Expectations - Budget 2009 - 2010
Budget expectation for the Construction and Infrastructure Industry
By Mr. Samir Chopra, CMD, RE/MAX India
 The forthcoming budget is very crucial for the revival of our economy which has been through a roller coaster ride in the last 12 months. The budget should provide sufficient stimulus to various sectors in the economy so as to achieve the desired growth rate. As real estate is slated to be a propeller for other industries, it is important to give sufficient sops to revive this sector. The revival of real estate sector can only happen once the consumer confidence and interest in realty is restored.
Investments and consumer interest that have taken a back seat in the past few months need to be turned around and as a first step towards this; banks need to be advised to reduce the interest rates on housing loans by at least 1%.
 We also suggest that the time limit and ceilings on the deduction of interest paid on loans for acquisition / construction of a residential house should be removed. The benefit should also be increased to Rs.3, 00,000/- on self occupied property.
For rental incomes, the exemption from income tax should be increased from the existing 30% to 50%.
The Government should also announce a package to benefit the small and medium enterprises including tax benefits, abolition of dividend distribution tax etc.
For SEZ’s, STPI benefits should be extended for at least 5 years. Also, the government should take steps for the regularization and licensing of Real Estate professionals to build transparency and promote professionalism.
About RE/MAX International, Inc.:
RE/MAX is the world’s largest network of real estate agents founded by Chariman Dave Liniger and his wife Gail Liniger in 1973. This is the first of its kind initiative to organize the real estate agents and works on the motto of providing maximum reach at optimum.
RE/MAX operates worldwide with offices in over 70 countries, including Australia, New Zealand, United States of America, Canada, Africa, Europe, United Kingdom, Middle East, Central America, Caribbean, Asia and the Pacific. On average, RE/MAX adds at least one new office to its international network each day and around 10,000 agents each year.
The RE/MAX Concept combines maximum commissions and the best support services to attract the top agents and, increasing, the top newcomers, to real estate. Agents share office overhead and pay management fees, and in return receive a wide variety of traditional real estate franchise services and high commissions apart from benefiting from advertising campaign, superior training and growing market share.
RE/MAX has been in the forefront of the technology revolution ever since the early 1990s, when it was one of the first real estate franchises to go online. remax.com - has become one of the most-visited real estate sites in the world. Potential buyers can find listings from any of the more than 70 nations in which RE/MAX does business. Once consumers land on a regional site, they can begin searching for properties, offices or agents making their search more meaningful and comprehensive. RE/MAX in this manner is one stop shop for all the realty requirements of its customers.
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Union Budget