REALTY SECTOR

ASHISH R PURAVANKARA, PRESIDENT CREDAI BENGALURU AND MANAGING DIRECTOR PURAVANKARA LTD

“W e hope the Union Budget 2018 will be an enabler for the industry to march towards strong recovery and growth. The realty industry expects some concrete measures to boost demand in the sector through income tax sops to home- buyers. Some allocations for accessing of loans for acquisition of land parcels would be an accelerant too. Most importantly, we are hoping for a robust longterm strategy for the affordable housing segments in terms of cost of funds and GST relief to make them viable for all stakeholders involved.”

MR. K P PRADEEP, CFO BRIGADE ENTERPRISES

“A long pending demand of the real estate sector has been recognition as an infrastructure provider and an industry status. The Union government has made a progressive move with its RERA Act, but its implementation across states needs to be more consistent. The RERA rules are state- specific and need more clarity.”

MR. FAROOK MAHMOOD, FIABCI WORLD PRESIDENT AND CHAIRMAN & MANAGING DIRECTOR SILVERLINE REALTY

“T he GST is currently on a higher slab of 12 to 18 per cent. We definitely expect this to reduce with the new Budget. We also need clarity and transparency on the input credit tax. Moreover, the single window clearance has not been implemented as yet. They need to take cognizance of this and improve it. Also, the real estate sector should be given industry status as it is one of the largest contributors to employment in the country.”