Mr. Mehul Thakur - Director, Viva Homes:
"Infrastructural development has been at the forefront of the new government's agenda on account of its potential to propel the country's economic growth. India's real estate market has already seen the positive impact of this. Hence, in order to maintain the growth of the sector, it is imperative to introduce policies and incentives that will boost the sector in the Union Budget 2015-16."
Starting with support to incentivize affordable housing and permit higher tax exemption limits for home buyers, we have great expectations from this budget. The government should also focus on ensuring a separate industry status for real estate which will help boost domestic bank lending, increase Foreign Direct Investment into the sector and ease external commercial borrowing. Single window clearances for the real estate sector will also help in curbing costs and therefore, significantly boost the affordable housing market.
Another focus for the government for 2015-16 should be revising the current FSI rules for ensuring a better vertical growth of the city."