Budget 2013-14: Realty Sector Demands Changes

2) Consideration of Special Residential Zones:

Last year, Indian cities face shortage of 18.8 million homes and to improve the condition, the government needs to make provisions for Special Residential Zones (SRZs) to provide more housing stock in targeted locations.

3) Realty sector should get industry status:

The real estate industry in India contributes around 5 percent to the overall GDP. Over the last decades, the sector has witnessed significant growth in terms of business standards and quality. However, the realty sector has been facing challenges because of less regulations and ineffective policies. But, as a part of the reform agenda, the government is all set to give real estate sector an industry status after a long wait. With this government’s measure, the sector can access cheaper funds from banks. In this budget session, the sector is hoping that the long wait for industry status should come to an end.

Also Read: What's In Store for Indian Real Estate in 2013?