Housing sector welcomes Budget 2018

New Delhi [India], Feb 1 (ANI): Managing Director SARE Homes, Vineet Relia on Thursday said that Union Budget has brought in some relaxation for the housing sector.

"Rs. 1 crore houses to be built under Pradhan Mantri Awas Yojna (PMAY) and the establishment of a dedicated affordable housing fund will act as a booster for the affordable housing sector," said Vineet Relia.

"Besides, the announcement of allotting Rs 2.4 lakh crore for 99 smart cities, will increase the investments in the sector. However, lowering of GST rates were also expected to provide the extra push to the sector," added Relia.

Echoing the same, Managing Director BDI Group, Sumit Berry said, "We welcome the Union Budget 2018-19 presented by FM Arun Jaitley with emphasis given to the affordable sector. The announcement of establishing dedicated affordable housing fund has brought more relaxation to the affordable housing sector not only this the benefit of increasing coverage under PMAY is also a positive news for the end users.

"As Real Estate makes pivotal contribution to the economy, the fall in the GST rate in budget 2018-19 would have provided the extra boost to the sector. However, investment of 2.4 lakh crore for 99 smart cities will attract more investments into the market which will uplift the commercial reality and increase the demand for office spaces," said Managing Director - JMS Buildtech, Pushpender Singh.

Earlier today, Finance Minister Arun Jaitley announced that a dedicated affordable housing fund will soon be launched by the government under the National Housing Bank (NHB) scheme. (ANI)

This story has not been edited. It has been published as provided by ANI