Sector 70 Faridabad Property

Finance Minister Nirmala Sitharaman tabled Budget 2019 on July 5. Infrastructure, agriculture, affordable housing were the big gainers. Rental housing found a passing mention in the budget speech and while developers have welcomed this budget as a positive one, they believe that the sector still reels under tremendous pressure in the absence of single-window clearances.

Days ahead of the Union Budget 2019, prime minister Narendra Modi has hinted at what to expect on July 5, 2019, the day when Nirmala Sitharaman presents her maiden budget as the finance minister. While agriculture, manufacturing and exports may be the focus areas of this year’s budget, real estate, the second-biggest job creator in the country, expects an equally fair treatment from the new FM. So, what do developers expect from this year’s budget?

As finance minister Nirmala Sitharaman delivered her maiden Budget Speech on July 5, switching between english and hindi, social networking site Twitter started to flood with reactions. Twitterati expressed varied reactions to the Budget 2019-20. Let's have a look.

Presenting her maiden budget in the capacity of finance minister, Nirmala Sitharaman announced that homebuyers would be offered additional tax deductions on the home loan interest component. So far, interest paid on housing loans is allowed a deduction to the extent of Rs 2 lakh if the property is self-occupied. This limit has been extended to Rs 3.5 lakhs now, in order to boost affordable housing.

In a report by global consultancy and research firm Centre for Asia Pacific Aviation (CAPA), India's aviation industry will become the third-largest market in the world with regards to departures by 2019, and job creation by 2027. The report also focuses on the apparent saturation likely in existing airports in metro cities and the need to deploy more capacity in Tier-II cities. To welcome the new flyers, the government is developing 100 airports across various locations in the country.