Kolkata: Following the presentation of the interim Budget on Thursday by Union Finance minister Nirmala Sitharaman, CREDAI West Bengal’s president Sushil Mohta welcomed the announcement of the introduction of the new scheme for the middle class to buy or build their own houses.
Sushil Mohta, who is also the chairman of Merlin Group, said: “We welcome the announcement of the introduction of the new scheme for the middle class to buy or build their own houses. Under PM Awaas Yojana-Grameen the announcement to build 2 crore additional houses in the next 5 years to cater to growing demand Under Pradhan Mantri Awas Yojana, the announcement to build the additional 2 crore rural houses in the next 5 years is encouraging. These will support the housing market to grow. This will not only create a lot of job opportunities for those in the housing and construction industry but will also provide a lot of scope on the ancillary industries like cement,
paint, etc.”
He further added: “Sustained focus on infra development under PM Gati Shakti Mission, increased and better rail and road connectivity to tier 2 and 3 cities will further housing sector growth and development in these cities.”
However, he also remarked: “No further tax benefit has been announced for the taxpayers. This will deter the common man from investing in homes as they will not have additional money in his pocket. Hence, for Middle-class buyers, we needed some sop on taxes and a reduction in home loan rates. Also, the real estate segment is expected to raise the threshold limit from the existing Rs 45 lakh for affordable housing. The announcement on the focus on the eastern region enhanced our hope and we expect more announcements on this soon”.
Echoing similar opinions, Saket Mohta, managing director, Merlin Group said: “The new scheme to be launched to encourage the middle class to buy/build their own houses will also provide a lot of scope to the ancillary industries such as cement, paint, etc.”