Mohit Goel, CEO, Omaxe Ltd, lays down his pre-budget expectations forward!

Mohit goel has said that even though there are a number of positive announcements made in the recent interim budget, he can witness significant improvement in certain macroeconomic indicators which have brought the inflation down whilst pushing down the overall industrial growth.

Moreover, Mohit goel places big expectations with the coming budget whilst saying that the surrounding favorable policy changes can trigger the improvement in the surrounded business environment whilst pushing an overall growth. Mohit goel further said that the government must start thinking about the promised Smart Cities and the Budget must bring all the required provisions in the same regards. While we are still indulged in all those irrelevant issues around, countries like US, Singapore etc are showing some great support and assistance to their upcoming Smart cities and further bringing a lot more opportunities for all of their private real estate developers. Mohit goel said that the Indian government needs to stay a bit soft on the FDI front for construction and affordable housing domains .As per Mohit goel, the government must introduce a bill to bring along a tax benefit under section 80 IB (10) of the Income Tax Act and this will further help in fulfilling the supply gap and further fulfilling the vision of “Housing for all” by 2022.

Mohit Goel CEO

This benefit would then bring all the benefits and advantages to the Smart Cities, affordable housing and re-development process in the urban areas. Mohit goel also quoted that the real estate sector is now looking forward to get their long awaited demand of improved infrastructure realized. This is something which will help the real estate sector to gain access to all the easy financing options around. Moreover, a transparent window clearance mechanism is immediately required whilst the project implementation is quite crucial to boost the overall investment and growth within the country.

Mohit Goel CEO Omaxe

Mohit Goel further confirms that GST comes on board as one of the most important tax regimen system and will come over with some great benefits to the Indian economy in the coming days. On the other side, bringing real estate in GST bracket needs to be brought forward in a holistic view and this will further bring in a lot of transparency in the same sector. Taxes bring upon some of the major parts of a property purchase and this is where they have to be rationalized.