A Move To Jump Start The Economy
Karan Bhatia- HRG Construction
“We immensely appreciate the intent of the Prime Minister to jump start the economy post COVID19 by announcing an economic package worth INR 20 Lakh Crores – almost equivalent to 10% of India’s GDP to set us on the path for a ‘Self Reliant India’.
We are looking forward to the Finance Ministers address and waiting to see the steps and measures taken for the Real Estate sector. We are hopeful for a boost to the demand which can be done by giving benefits and incentives to the buyers in the form of lowering interest rates on home loans and increasing the tax deduction limits for interest on home loans.
Reducing the stamp duty and registration charges for a certain amount of time on first purchases would also be a big incentive to buyers and would help sales at this difficult time.
Developers have been facing liquidity issues that will be helped with an impetus in sales as well as measures to ensure adequate availability of finance – especially at a time like this.
Real Estate industry supports many other industries and its growth is crucial in reshaping the economy at this hour. We remain positive that the Government will take the right steps to ensure we steer out of this situation quickly and effectively.”