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Saturday, 16 May 2020
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Project fraternity shares view post Finance Minister’s announcement 

Construction
 
Mohit Goel, CEO, Omaxe 
 
The extension CLSS scheme by one more year along with extended project completion timeline will help in addressing both demand and supply side issues, hence, augurs well for the sector. With little more help in form of lower GST & Stamp duty, the real sector will be up and running soon. 
 
Pradeep Aggarwal, Founder & Chairman, Signature Global and & Chairman - ASSOCHAM National Council on Real Estate, Housing and Urban Development
 
In the last couple of years, the subsidy of upto Rs 2.67 lakh under Credit Linked Subsidy Scheme has been one of the biggest catalysts for home buyers, particularly for affordable housing in tier II & III cities. With property prices remaining stable, the extension will prompt more people particularly mid-income group to buy homes.
 
Dhruv Agarwala, Group CEO, Housing.com, Makaan.com and PropTiger.com 
 
The extension of the Credit Link Subsidy Scheme by one year will prompt many of the fence sitters to buy homes at the earliest and thereby increase demand for affordable housing wherein industry has max unsold inventory across the country. This will also help sustain employment as real estate supports close to 200 allied industries. The proposed affordable rental housing under PPP is a welcome step. This will help in effectively tackling any migrant labourers issues in the future.
 
Prateek Mittal, Executive Director, Sushma Group
 
Yesterday’s announcement by the finance minister was to ease the liquidity in the real estate sector and delay stress for the supply side, and today the government by extending the PMAY-CLSS scheme for MIG, has boosted the demand side as well. This comprehensive approach will go a long way to catapult the sector.
 
Uddhav Poddar, MD, Bhumika Group
 
The extension of CLSS by one year will definitely benefit the affordable housing segment, which is a key demand driver within the real estate sector. Also the announcement by the Hon’ble Finance Minister of a scheme for affordable rental housing for migrant workers by converting government-funded housing in cities into Affordable Rental Housing Complexes (ARHC) under PPP mode through concessionaire is interesting and we look forward to more details of the same.
 
Rajat Goel, JMD, MRG World
 
Focus of the government is on providing housing to everyone in the country. It has been communicated over the years through various steps that this government has taken including giving industry status to affordable housing. The latest announcement by the FM in the wake of the pandemic also shows that government want people to buy houses and this can be achieved by this announcement as fence sitters too will come and buy.
 
Harvinder Sikka, MD, Sikka Group
 
The recent announcement pertaining to extension of CLSS up to another year, has benefitted the MIG, and affordable housing sector. The extension welcomes investors and end-users with their share of investments. Affordable housing being a major job provider, will also be able to create more jobs with the government’s proposal related to the change in outlook of the government housing complexes in cities to affordable rental housing complexes.
 
Vikas Garg, Deputy Managing Director, MRG World
 
Focus of the government is on providing housing to everyone in the country. It has been communicated over the years through various steps that this government has taken including giving industry status to affordable housing. The latest announcement by the FM in the wake of the pandemic also shows that government want people to buy houses and this can be achieved by this announcement as fence sitters too will come and buy.

 

 
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