Indian Stock markets are not impressed by the Union Budget presented on February 1 and have witnessed a decline. Real estate sector was expecting more steps from the government to improve the prospectus for the sector but the main demands haven't been met.

A viewpoint on Union Budget 2020 by Mr. Sandeep Runwal - Runwal Developers follows...

We welcome the new announcements made by the Finance Minister towards the affordable housing segment which is aimed at giving tax holiday to developers and extending the loan sanction date by one more year on profits earned.

Although the last couple of years have been challenging, we are hoping that the tax relief across income slabs will increase the disposable income of the middle segment group for affordable housing consumption.

Furthermore, incentives to attract foreign players in infrastructure should revive consumption in the real estate sector. We foresee the proposed initiatives might see a change in the fortunes of the real estate sector in the coming years