Realty firms are not impressed by Budget
Real estate sector had a lot of expectation from the budget 2012. However the budget did not accept any of the assumptions of the sector.
The leaders are not impressed with the outcome of the budget.
The sector only achieved external commercial borrowing for low-cost affordable housing projects.
The government took the decision to enhance the affordability of funds for the low cost housing projects, so that the projects will get completed within projected time schedule.
According to the real estate analysts, the decision of 1% interest subsidy on loans up to Rs 15 lakh where the cost of house does not exceed Rs 25 lakh, will not attract the buyers as very few properties are available at the cost.
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Source : Hindustan Times
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