The announcements by the honourable Finance Minister for the real estate sector in stimulus 3.0 in the context of the festive season has been perfectly timed. Just when the sentiment is improving amidst the festive season, the government with their income tax relief measure has further provided a thrust to the sector. The move is bound to encourage new buyers. The announcement also provides relief to the developers as the tax liability is reduced.
The announcement of Rs 18,000 crore additional outlay for the urban housing scheme to help complete real estate projects would also create jobs, positively impact the allied industries and boost the overall economy. Fundamentally, its an announcement in the right direction with a win-win situation for developers and home buyers.