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Business EYE February 05, 2021 | The Indian Eye 38

real estate, healthcare and infra expect a

recovery and boom as promised in Budget

To boost the investment coming via the NRI route, the taxation has been simplified

which may incentivize the overseas Indians to invest in India

Our Bureau centivize NRIs to invest in our
country as they will get a tax re-
New Delhi bate on the rental income. This

ndia’s real estate sector move will also give a boost to
which was engulfed by a holiday homes and commercial
Iglobal pandemic is now real estate in the country, he
back on road to recovery. With further said.
economic activities gearing “Furthermore, there have
up, key announcements in the been relaxations offered in
union budget have raised hopes real estate transactions, capi-
for this sector. tal gains, business profits, and
Industry leaders are lauding rental income which in turn will
and welcoming decisions taken uplift the real estate sector,”
by Finance Minister Nirmala said Kushwaha.
Sitharaman. Eminent experts Meanwhile, Farshid Coo-
opine that major budget an- per, MD, Spenta Corporation
nouncements like tax exemp- The real estate sector may now attract investments from NrIs said, a major impetus to the in-
tions on affordable housing frastructure and introduction of
projects, debt financing by for- taxation on NRIs will also act including real estate, said Ad- DFI or Development Financial
eign portfolio investors (FPIs) as a catalyst for investment in itya Kushwaha, CEO and Di- Institution worth INR 20,000
in real estate investment trusts this sector. The country is on its rector, Axis Ecorp. crore is a fillip to not just to the
(REITs) and infrastructure road to recovery and this budget “We welcome the first dig- respective sectors but also to
investment trusts (InvITs), ensures the same” said Amarjit ital budget presented by the the aligned segments such as
better connectivity will bring Bakshi, CMD, Central Park. Finance Minister. The budget housing.
back confidence among inves- Affordable housing to boost is largely focussed on health- “The pandemic had signifi-
tors and homebuyers, reviving in state capitals and tier-2, 3 cit- care and infrastructure, which cantly impacted the construc-
trust, growth and investments ies - The government has tried will have a ripple effect on tion of major infrastructure
in this emerging sector. Great to push its ambitious target of the development in the other projects and stalled the hous-
steps to ensure country’s road housing for all. sectors including real estate,” ing construction for a consider-
to recovery. “State capitals and tier-2, said Kushwaha. The Finance able amount of time. The DFI
“The budget is a reflection 3 cities will benefit immensely Minister has also given special will help fast-track the infra
of the government’s efforts to from the government’s focus importance to human capital. projects in major cities paving
re-instill confidence and en- on sectors like roads and high- Steps taken in this direction in way for the growth of the hous-
ergy in India’s economy for a ways, ports, power, urban infra- conjunction with growth in in- ing sector as well. Additionally,
‘V-shaped’ recovery. The six structure, railways. Add to it, frastructure will lead to an in- an extension of tax exemption
pillars of the budget (health, the affordable housing boost, crease in the disposable income available for the purchase of af-
physical, financial capital and by extending tax holiday for of people which could bring a fordable houses and affordable
infrastructure, inclusive devel- such projects by one year, ex- good scope for investment in rental housing projects will
opment for aspirational India, tending by one year the dead- real estate, he added. boost the real estate sector in
reinvigorating human capital, line for first-time homebuyers “In the Annual budget for major cities and Tier II and III
innovation and R&D and min- to avail additional Rs 1,50,000 2021 too, we can see the Gov- cities as well,” he added.
imum government and maxi- interest deduction on home ernment’s focus on affordable Savills India, CEO, Anu-
mum governance), as outlined loan, and tax exemption for housing. The deduction on pay- rag Mathur has also lauded the
by the FM, will give a direc- affordable rental housing will ment of interest for affordable key features of the Union Bud-
tion to the country’s economy, further boost demand for hous- housing has been extended by get-2021 stating, the budget has
which suffered a huge jolt due ing in these cities,” said Mohit a year. This move will improve reaffirmed the government’s
to the pandemic. Tax reliefs and Goel, CEO, Omaxe Ltd. customer buying behavior,” commitment to bring back the
announcement of one year’s The Union Budget 2021 is Kushwaha stated. country on a road of recovery
tax holiday will bring back con- largely focused on healthcare At the same time, to boost through focused impetus on in-
fidence in home-buyers and and infrastructure, which will the investment coming via the frastructure, healthcare, inclu-
will boost the affordable hous- have a ripple effect on the de- NRI route, the taxation has sive development, innovation,
ing sector. Change in double velopment in the other sectors been simplified which will in- and robust governance.

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