Commenting on Union Budget 2009-10, Mayur Shah, Secretary, Maharashtra Chamber of Housing Industry said, “The Union Budget presented by the finance minister Mr. Pranab Mukherjee has outlined measures to speed up infrastructure development and unveiled increased spending for farmers and the poor section in the budget. It was an attempt to bridge the gap between the rural and urban India.

The tax breaks to the individual also expected to drive consumption and hence more demand will be created in housing sector in long term. Though, the finance minister did not make any major announcement to boost the real estate industry, overall infrastructure development is likely to benefit the housing industry. We were expecting that the government would re-introduce section 80 (IB). However, the same has not been considered by the finance minister.

The housing industry in India has seen some signs of revival since last few months after witnessing a lull for a long. The industry was expecting some measures/provisions by the finance minister to boost the affordable housing segment. However, unfortunately, nothing has come from the finance minister on the same.

Among the series of announcements those would directly or indirectly benefit the housing industry includes, enhanced allocation for the Jawaharlal Nehru National Urban Renewal Mission (JNNURM), increase in the allocation for housing and provision of basic amenities to urban poor section to Rs.3,973 crore in the current year's budget. Provision for Rajiv Awas Yojana (RAY).

The Finance Minister addressed the issue of the Infrastructure development of Mumbai by making additional provision towards the Brihan Mumbai Storm Water Drainage Project (BRIMSTOWAD).”