Reaction on Union Budget 2020 - Mr. Kamal Khetan, Chairman and Managing Director, Sunteck Realty Ltd

"The union budget predominantly focussed on revitalising the affordable housing which is an attempt to revive the animal spirit in the real estate market. In order to meet the 'Housing For All by 2022' and stimulate homebuyer's sentiment, there is a direct intervention through one year extension on exemption of additional interest deduction of Rs. 1.5 lakh for home buyers under the affordable housing sector. Additionally, extending the tax holiday on the profits of developers involved in affordable housing projects to March 2021 is a huge support to de-bottleneck issues surrounding the affordable housing segment. It will provide an impetus to the sector for creating more demand for MIG and LIG group of homebuyers. Moreover, The trickledown effect of the tax saving will mean disposable income in the hands of the common man, thereby increasing consumption and investment in real estate.

Shares of SUNTECK REALTY LTD. was last trading in BSE at Rs.374.85 as compared to the previous close of Rs. 396.3. The total number of shares traded during the day was 43037 in over 1456 trades.

The stock hit an intraday high of Rs. 410 and intraday low of 372.9. The net turnover during the day was Rs. 17067938.

Source : Equity Bulls

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