Affordable housing emphasised in budget
External commercial borrowing is allowed for low cost affordable housing projects.
This is the only positive gain real estate sector achieved from the budget.
However the entire real estate is disappointed after the announcement of the budget. The realty sector still not get the industry status.
FDI norms for the real estate kept unchanged. Hence no greater investment in the luxurious realty sector.
There is no announcement for the set up of real estate regulatory committee. Hence the protection of consumer interest and Realtors still not done.
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Source : Money Control
Affordable Housing, Budget 2012, effect on budget on real estate, external commercial borrowing, FDI in real estate, Real estate and Budget, real estate regulatory committee
