Nandu Belani, President, CREDAI Bengal reacted after the Union Budget

Ambar Bhattacharya, abptakmaa, Kolkata, 6th July 2019 : After the union budget got annonced Mr Nandu Belani, President, CREDAI Bengal on Union Budget said, “This Budget has shown the pragmatism to reform archaic rental laws which will in return promote public housing on government land.This has been a long-standing proposal from CREDAI which has been addressed and announced in today’s Budget. It is also heartening to see the Government acknowledge real estate reforms to be among the three biggest policy initiatives to be taken in the last five years. The Regulation of Housing Finance Companies being returned from NHB to RBI is also a very positive decision, with the real estate industry hoping that RBI would bring about much needed reforms for financing of real estate sector, with regards to financing of land, giving ‘priority sector’ status to housing finance and lower cost of funding. Giving great impetus to investments as the fulcrum of the growth strategy is a significant positive, cutting across industries from which real estate too will surely benefit. Avoiding populism, yet adhering to the indices for making a ‘New India’ are what made this Budget pragmatic.” Publicity : Candid Communications.