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| Realty players cheer incentives on home loans |
| Press Trust of India / New Delhi Jul 27, 2009, 21:24 IST |
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The real estate players today expressed happiness on the Finance Minister's proposal to provide incentives on home loans and said the move will help in boosting demand of the slowdown-hit sector.
"It's a very good step for the affordable housing segment. In fact, it is a big stimulus to the sector that will absolutely revive the demand in real estate," Parsvnath Developers Chairman Pradeep Jain told PTI.
The extension of tax holiday on affordable housing projects completing before March, 2012, was also a much-needed step to provide a helping hand to the developers, he added.
Expressing similar views, Omaxe Chairman and Managing Director Rohtas Goel said, "The decisions are good for both developers as well as end-users."
The country's largest real estate consultant Jones Lang LaSalle Meghraj Chairman and Country Head Anuj Puri said the moves would increase demand only in the low-cost and mid- income affordable housing segment.
"This is only one of the measures. The government needs to take many more such measures to revive the entire real estate sector," he added.
However, another leading consultant Cushman & Wakefield (C&W) said the Finance Minister's move would have "very little" impact on the realty sector.
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