Budget proposals might curb Real Estate boom: Experts

Saturday, March 17, 2007, 22:56 [IST]

Mumbai, Feb 28 (UNI) Realty experts today said the real estate boom will end now since the tax concession hitherto granted under 80 IB for construction under 1,000 square feet in Delhi and Mumbai and under 1,500 square feet built-up area in Bangalore has been withdrawn in the Union Budget for 2007-08.

''Builders and developers were trying to circumvent provisions of the previous notification by making two agreements. I think this latest move of the Finance Minister is aimed at plugging that loophole. But definitely, per se, this is bad news for property developers. Now, listed stocks like Sobha Developers will be most affected, since they have full concentration in Bangalore and Mumbai,'' a realty expert noted.

''Also, in the NCR region, companies such as Parsvnath and Ansal could feel the pinch, '' another investment advisor said.

UNI

Topics: BUDGET-REACTION-REAL ESTATE

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Saturday, March 17, 2007,22:57 [IST]

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Saturday, March 17, 2007,22:57 [IST]

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Saturday, March 17, 2007,22:57 [IST]

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