Released on: June 5, 2008, 4:10 am

Press Release Author: George Gonigal

Industry: Real Estate

Press Release Summary: Although the Union Budget 2008-09 does not bring any explicit
benefit for the Indian real estate sector, restructuring of tax-slabs is likely to
enhance liquidity in the economy. As a result, people wishing to buy real estate for
themselves will have higher disposable income saved out of tax breaks, and this way
a number of people would either be able to buy property or at least save for the
down payment, in case they opt for a home loan.

Press Release Body: Although the Union Budget 2008-09 does not bring any explicit
benefit for the Indian real estate sector, restructuring of tax-slabs is likely to
enhance liquidity in the economy. As a result, people wishing to buy real estate for
themselves will have higher disposable income saved out of tax breaks, and this way
a number of people would either be able to buy property or at least save for the
down payment, in case they opt for a home loan.

Body: Although the Union Budget 2008-09 does not bring any explicit benefit for the
Indian real estate sector, restructuring of tax-slabs is likely to enhance liquidity
in the economy. As a result, people wishing to buy real estate for themselves will
have higher disposable income saved out of tax breaks, and this way a number of
people would either be able to buy property or at least save for the down payment,
in case they opt for a home loan.

A large number of people in the middle income group will be able to afford equated
monthly installments of home loans owing to tax benefits, and the slowing demand in
the residential property markets may witness revival. Banks, which were suffering
from slipping growth rates in home loan segment may also witness an upsurge.

According to Sanjay Chandra, managing director of Unitech, \"The budgetary provisions
will bring down the cost of construction due to reduction in duty and central
value-added tax, and the benefit will be subsequently passed on to the customers.\"
Chairman of Parsvnath Developers, Pradeep Jain, at the other end, was expecting the
grant of industry-status to real estate in this budget. Real estate development is
capital intensive and it needs industry status in order to access organised routes
of financing, he says. The budget, however, did not address the issue.

With regard to commercial property markets of India after budget, Mr Rajnikant
Agrawal of CoreNet Global says that the outlook for the industry remains optimistic
and that the sector can look forward to continued expansion during 2008. \"In
general, corporate rentals are steady with a minor upward movement being reported in
Central Business Districts (CBDs) and off CBD areas in most of the cities across the
country.\"

For more details on Sell Properties in India, log on to
http://property.magicbricks.com/newproperty/investments/index.html


Web Site: http://property.magicbricks.com/newproperty/investments/index.html

Contact Details: george.gonigal@gmail.com