Union Budget has offered some benefits for the real estate sector while it has failed to cheer up investors looking for support for automobile, banking & finance and other sectors. Comments on Union Budget by Mr. Mayur Shah, Managing Director Marathon Group & Former Chairman MCHI CREDAI.

This budget is in line with many big reforms that we saw in the last five years including RERA, in indirect taxation, bankruptcy etc. The special emphasis that has been given for the affordable housing segment is good news for customers and it is aligned with the government’s National Mission of “Housing for All by 2022” Mission.

Additional Rs.1.5 lakh interest deduction for purchase of residential house having value upto Rs. 45 lakh, in addition to the existing interest deduction Rs. 2 lakh is a welcome step. Redefining the affordable segment and increasing the limit of carpet area in 60 square meters in Metropolitan regions and 90 square meters in non-metropolitan regions is good step for the sector.