4 expectations from the Budget session 2016
Budget session of 2016 will be extremely critical. Sluggish demand has meant that 1,80,000 apartments remain unsold i n Delhi NCR followed by Bengaluru (with 94,000 apartments) and Mumbai ( 80,000); many homebuyers are paying a heavy price for projects being delayed for one reason or the other. Regulatory bill must see light of the day: Discussions on the real estate bill must reach a positive conclusion, which will give homebuyers the confidence to return to the market and deal with responsible builders, says David Walker, managing director, SARE Homes.
Grant infrastructure status: “We are pinning all our hopes on t he upcoming union Budget 2016. Getting infrastructure status has been a long pending demand of the real estate sector and this time too we hope that we will be given infrastructure status so that developers can avail finances at cheaper rates from financial institutions,” says Manoj Gaur, MD, Gaursons India Ltd.
Single window clearance: Buiders are waiting for the introduction of a single-window clearance system so that approvals are received on time and timelines met.
Introduction of special residential zones ( SRZs): The National Real Estate Development Council ( NAREDCO) has demanded creation of Special Residential Zones (SRZs) for affordable housing on the lines of Special Economic Z o n e s ( S E Z s ) whe r e special concessions and incentives can be given along with single window clearances.