Affordable Homes Got Less Recognition in Budget 2012

Affordable Homes Got Less Recognition in Budget 2012

By siliconindia   |   Monday, March 26, 2012   |    1 Comments

Bangalore: Indian real estate consumers are not very happy with the current budget 2012. According to MagicBricks survey which had over 500 respondents, 75 percent consumers are of the opinion that the budget has failed to give much importance to real estate sector as well as the same percentage have shown dissatisfaction of  government policies  for infrastructure.

During the previous year, real estate sector has witnessed sluggish movement because of the hike in interest rates, which further has reduced the purchasing power for maximum customers. Therefore, the mid income consumer’s had high hopes with Finance Minister Pranab Mukherjee,  expecting him to bring some relief as well as affordability back for this segment.

According to the survey, 61 percent consumer felt that to bring improvement in real estate sector, affordable housing is the best option. Nearly 39 percent want affordable housing units to increase, 23 percent for tax-exemption limit to increase on home loans and 21 percent were looking for housing to receive industry status.

In an online chat forum Gurutalk, on MagicBricks, prominent developer Niranjan Hiranandani has given his opinion to the consumers who have expressed their problem regarding investment in housing. His advice was “invest when the market is looking dull and sell when the market is looking bright,” reports TOI.

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