Once the Union Finance Minister has hinted on some special provisions for the affordable housing subdivision in the Budget 2013, home buyers look ahead with lot of hopes and dreams.
Owning a home is always been a dream for everyone and in the same way they look at the yearly-budget for having some provisions that will improve their chances of owning a home. However the Budget 2013 is expected to be a housing sector friendly as it will contain some special provisions to the housing sector.
Budget 2013 is highly expected to be a realty sector- friendly budget. Some special provisions; which will boost the construction sector, will be included in the Budget 2013.
Conferring infrastructure status to the affordable housing segment is one of the most likely provisions included in the budget. P Chidambaram, Union finance minister, has already hinted on the matter. In fact, the builders had demanded for infrastructure status to the entire sector.
Though demands of the real estate developers are many and has no end, the Union finance minister has decided not to heed all of the demands but only the necessary ones which are necessary for providing affordable houses to the people.
Some of the major demands raised by the real estate developers are some sort of tax reductions, lowered interest rates for the loans of the builders, low cost of finance for construction, etc. Besides these above said demands, some builders have asked for Single –window clearance.
Some demanded Single –window clearance for clearing the approvals very fast. In their opinion the delay in clearance is one of the main reasons which hike the property prices. Once the approval system has become faster, the builders will be able to provide low-budgeted homes to the people.
Mr. Chidambaram seems concerned with the affordable housing sector and so he plans to raise affordable housing sector to the infrastructure status. In fact the raising of housing sector in to the infrastructure level will offer the builders chances to acquire more tax benefits and exemptions.
