Budget 2019 fails to address real estate sector's most pressing concerns

Experts say the govt missed the bus on ITC benefit under GST, industry status and single-window project clearance

Union Budget 2019-20 has evoked mixed reactions from the real estate sector, with the push for affordable housing and infrastructure, along with the promotion of rental housing, being lauded. However, builders and developers are miffed that the Budget failed to address long-standing expectations regarding industry status for the sector, single-window clearance and reforms in the Goods and Services Tax (GST).  

ANAROCK Property Consultants Chairman Anuj Puri said, "As far as real estate is concerned, the Budget had a few hits and several misses." Puri said that from the real estate perspective, the Budget did not meet many expectations, as it