Union Budget 2016 is a boon for Realty: Pawan Kumar Dhoot
Education, Agriculture, rural sector, Infrastructure, financial reforms, governance, fiscal discipline and tax reforms are the foundation pillars of Union Budget 2016, which are being considered appropriate at this time. Many builders agree that the move to remove DDT in Real Estate Investment Trust’s (REIT) is another commendable initiative taken by the government.
The Managing Director of Dhoot Group, Mr. Pawan Kumar Dhoot has a say in this matter. He said, “This move may delight the institutional investors in this sector, according to whom India needs more exploration in realty. It will open the doors of possibilities and opportunities for realty developers and investors across the Nation.”
Affordable Housing is the core segment in realty, where the deduction of Rs 50,000 per annum on additional interest, for loans up to Rs 35 lakh for the first time buyers, is the move which Dhoot Group is appreciating the most at the moment. Pawan Kumar Dhoot said, “This move has raised the bar of our expectations from the next Union Budget 2017 for our sector.”
Mr. Dhoot has also called this Union Budget, a balanced draft, which will take the development to the next level if implemented well. As far as the realty is concerned, this Union Budget for FY 16-17 is aligned with the Prime Minister’s ‘Housing for All by 2022’, which aims to cater the housing needs of Indians in coming decade. The tax reforms that the government made, indicates centre’s seriousness towards boosting the housing sector.
The diversified developer also expressed its gratification on the involvement of rural electrification in this budgetary session along with government’s plans for the infrastructure sector, which are the essential elements of the same.
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