Reduction in home loan interest rates will be a boost to middle-class wage earners

Mr. Prashant Solomon is the Managing Director, Chintels India Ltd., The Chintels Group of Companies which is an emerging Real Estate Developer in the face of modern India and has been active in the field of real estate in the NCR since 1992. Mr. Prashant stated that there is high expectations from the Government’s second full-fledged Union Budget in 2016. Hopefully, the sector will get the much needed industry status finally. The real estate sector is sensitive to many of the policies that are announced both for various industries and individuals. REITs should be expanded to the residential sector where investors can get returns on capital appreciation so that developers can get the much needed funding for projects. It's not only so investors can get better returns but ask so projects can get funding.. The Government should also encourage External Commercial Borrowing (ECB) in residential & commercial projects. There should also be provision for Affordable Real Estate Zones with tax rebates for builders investing in such projects. The Government should also roll-out the much delayed Goods & Services Tax (GST) as it will give the much needed thrust to the industry and will benefit manufacturing in India extensively. Additionally, reduction in home loan interest rates will also give a boost to end-user buying, especially among middle-class wage earners. Drawing some of the best talent from the real estate industry, Chintels has an ever-growing team of engineers, architects, finance, marketing and CRM professionals, all of whom are committed to delivering high quality projects as committed. All projects are located strategically in areas where development is happening fast with international quality infrastructure.