The Interim Budget was not in line with industry expectations as it has not brought any relief for the real estate sector to bring the economy back on the growth track. It is very disappointing that the government did nothing to improve consumer sentiment and encourage home buyers.
To revive the sector, the government should have shown concern and taken steps to improve the demand. It was expected that the government would send a strong message to the RBI to take necessary steps like reduction in interest rates on home loans to the tune of 6 per cent-6.5 per cent. We were hoping the government would make loans up to Rs 30 lakh eligible for priority sector lending.
Pradeep Jain, Chairman, Parsvnath Developers
