Commenting on Union Budget 2009-10, Shrikant Paranjape, Chairman of Paranjape Schemes Construction said, “Union Finance Minister Pranab Mukherjee has presented a balanced budget with focus on the social sectors. The finance minister has tried to a balancing act between boosting economic growth, generating demand in the difficult time. Though the finance minister did not make any major announcement that will boost the real estate sector, the measures he announced towards the infrastructure development certainly will push up the housing industry as well.

We were optimistic that the finance minister may consider measures including enhancing the home loan tax limit from Rs. 1.5 Lakhs to 2.5 Lakhs.

However, considering the overall budget and the individual tax breaks, we are sure that these measures will drive consumption and hence more demand will be created in housing sector in long term.”