The Union Budget evoked varying responses from home buyers, realtors and builders in Hyderabad. Since home buying has started picking up in the city after a prolonged period, builders feel that impetus in form of more relief could have helped. But the provision of an additional deduction of interest of up to Rs.1 lakh for home loans has been welcomed by many. This is offered for first time home loans up to Rs.25 lakh. For the real estate in Hyderabad, even such smaller incentives could add up. Some in the construction industry feel that with property prices being lowest here in the city, this small incremental advantage could come to help them. Bankers on their part feel that the exemption could encourage people to apply for housing loans.
However, there are voices that sound disappointed with the budget. According to S. Pochender, CEO of Lanco Hills, “It could have been much better. I wished for some real incentives for the real estate, but can understand the constraints that the Finance Minister had on his side of the table”.
