Nothing much for the housing sector, Pranab Datta, vice chairman and managing director, Knight Frank India
17 March 2012
Overall this budget does not have much to look forward to. With reference to the real estate sector, there is an absence of any intent to address the issues concerning the sector.
High property prices and low demand coupled with a tight lending market has further hit the buyer's hopes of owning a house.
The residential segment has received some attention in terms of fund allocation for rural housing and ECB window for affordable housing projects. Thankfully, residential leases have been kept out of the ambit of service tax.