Union Budget 2012: Boon to Real Estate

The Finance Minister has presented boon to the real estate in general and the 'affordable housing' in particular in the Budget 2012-13. There is dearth of housing for the economically weaker section in particular and the Middle Class in general. The real estate developers and the public housing and development authorities should use this opportunity in meeting the backlog of housing demand in current year. There is enough land for the need of people and not for the greed of people in urban areas. The development agencies should take a proactive role in facilitating the speedy disposal and deliveries of housing in the current year by imposing withholding taxes on the constructed buildings and vacancy taxes on the urban land to avoid the speculation of land market in the urban area of the country especially in the Metropolitan cities and the cities within their influence or say the satellite towns of such metropolitan cities. For sustained growth in economy urban development is needed.
Shashikant Nishant Sharma
शशिकांत निशांत शर्मा साहिल’