The Union Budget 2017 has shown positive reforms in the realty and infrastructure sector. The realty sector took the greatest of beating due to demonetization. Budget 2017 proved as a relieving point to the people and the real estate sector affected in the process. Amongst other hotshots from the infrastructure sector, Manmohan Garg also gave appreciative comments on the budget. Here is an excerpt from the comment made by the realtor.
Manmohan Garg with knowledge of construction and development of real estate.
“The budget brings in substantial reforms in the welfare of buyers this year, with the introduction of affordable housing and purchase based on built-up area changed to carpet area of 30/60. The two changes go hand in hand, with the carpet area being counted for purchase instead of built-up area. This makes affordable housing scheme become more lucrative for both; buyers and builders.” He further explains that, more carpet area enables builders to market a property to greater segment of potential buyers bringing in relatively more purchases. The number of purchases will substantially increase too, owing to spacious house and affordable cost of purchase, concludes the owner of Mera Baba Group.
The significant changes brought into realty with Budget 2017 are expected to welcome much needed thrust in the sector. The only ones criticizing the reforms presented by the Finance Minister are Congress and Left Front. They claimed that the government took these measures in order to help ruling party in the coming year’s Panchayat election.
The introduced reforms in the Budget are commendable on an overall basis and reflect the government’s consideration towards its people. The realty sector particularly, has relatively seen a significant change as compared to other sectors. People from the real estate business are applauding the move made by the Finance Minister.”