Seeking big thrust for housing projects, Kumar Mordani, Director, Man Infraprojects, “We expect a big thrust for housing projects in the coming budget so that momentum of GDP growth is not only maintained but given a further push. There is an urgent need of easy liquidity to the real estate industry and we expect the government to extend the external commercial borrowing scheme to the entire Indian real estate sector including Special Economic Zones and not just 100 acre township, hotels, hospitals in view of the moderate international costs of borrowing.

The government needs to announce policy measures to motivate the home buyers to purchase the properties and it would happen only by the reduction in the interest rates on home loans. Therefore, some directives are necessary to the banks to soften the interest rates. Also there is a need to increase the tax exemption limit under section 24(b).The Government also need to address the issues like CRZ regulations by allowing some relaxations in the stringent norms. The real estate industry also expecting the government to introduce tax holiday under section 801B for housing, amendments in service tax, abolition of service tax on renting immovable property in order to boost the Indian real estate industry.”