BUDGET EXPECTATIONS 2009-10 from- Mr.Dhaval Ajmera, Director, Ajmera Realty and Infra India Ltd.

Dear Sir,
 
Attached please find the photographs and details of BUDGET EXPECTATIONS 2009-10 from- Mr.Dhaval Ajmera, Director, Ajmera Realty and Infra India Ltd. For your reference.
 
We will be grateful if you could try and incorporate the same in the coming issue along with the photographs.
 
Thanking You,
 
Regards
Vaibhav Patil

9821141740
---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
 
 
BUDGET EXPECTATIONS 2009-10-
 
-         Dhaval Ajmera, Director, Ajmera Realty and Infra India Ltd. 
 

     Real Estate is one amongst the most affected industry in this slowdown. Around 250 Industries are directly or indirectly associated with this sector and most of them are small or in medium segment. Real Estate is the largest employer after agriculture around 7% of the total workforce and a large chunk of them are unskilled or semi skilled.

 

Real Estate contributes is one industry which contributes about 4.5% of the GDP. Inspite of such a large contribution, it has not yet been accorded. This is an industry which can act as a growth engine for the entire economy if the right support is provided. The interest rates have come down well but still there is scope. The home loan rates should not go beyond 7% and margin money not above 15%. This will stimulus growth and help EMIs affordable. Further, the deductions towards interest payment on home loan should be enhanced from 1.5 lacs to 3.0 lacs to provide cushion to lower and middle class people. 

 

Similarly the construction finance should be around 10% to keep the construction cost low. Construction finance is one of the safest lending hence it should be treated equally while computing the risk coverage ratio. Like other industry we don't need any bailout package. What we need is a favourable support and clarification. The reason for which Section 80IB was introduced still stands valid and should be extended till 2013. "Housing for Aaam Admi" was one of the agenda of the current Govt. We also expect Govt to declare a policy with fiscal incentives for Affordable Housing. The FDI policy should be relaxed to make foreign investment available at competitive rate.

." 

--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------