Mr Rohit Gera MD Gera Developments

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Rohit Gera

“The government has presented an outstanding budget considering the fact that this was an interim budget. The farm segment and middle class boosters are extremely welcome. There will certainly be a boost to the consumption on account of the increased disposable income. The fiscal deficit at 3.4% is not a cause for any concern.

The budget speech by the finance minister finally demonstrates the intent of the government to support the real estate sector. The extension of section 80 I B for one year is a welcome step. This will boost the continued production of affordable housing in the country. Permitting two homes to be purchased out of capital gain is most welcome. An increase in the TDS threshold and the removal of notional rent on a second self occupied home are also positive for the consumer. For developers too given the challenging conditions the extension of the notional rent by one year is welcome. Hopefully the boost will help to consume the unsold stock.

The clear indication by the finance minister on the GST reduction for housing will be the next and final boost for the real estate sector.”

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