Thursday, February 28, 2008

What M/s Kumar Gera (Gera Developments), Shrikant Paranjape (Paranjape Schemes), R Vasudevan (Vascon Engineers) expect from 'Union Budget 2008'?

Even as various sectors in Pune wait anxiously for Union Budget 2008 to unravel on Friday, wish lists have been drawn up:

Kumar Gera,
Managing Director, Gera Developments and
Chairman, Confederation of Real Estate Developers Association of India (CREDAI):
We want anything that can bring down the input costs in order to bring down prices for the end user.
Section 80 IB should be re-instituted to give tax exemptions for those making smaller units.
There should be increase in tax exemption to the borrower who has to repay the loan; his interest should be deducted from his income.
Also, encouragement needs to be given to rental stock in the country as it indirectly helps various other sectors involved in hiring and movement of people.

Shrikant Paranjape,
Chairman, Paranjape Schemes:
The rate of interest for construction finance and housing finance should come down. The FM has been requesting banks to give more money to loans, so we are hopeful that this means a decrease in the rate is also in the offing.
We also want certain sops for those involved in construction of low cost housing.

R Vasudevan,
CMD, Vascon Engineers Pvt. Ltd.:
STPI extension is imperative.
Rental income should be a part of income tax benefits and there should be increase in the limit of API benefits to low income housing schemes.”
Great Budget Expectations

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