16, Feb 2023
West Bengal State Budget 2023 – Reaction From Bengal Real Estate Developers

Mr Abishek Bhardwaj, Chief Marketing Officer, Shristi Infrastructure Development Corporation Limited

In the current state budget, the Government has given special focus on real estate by extending the reduced stamp duty till 30th September. There has always been a steady demand in the housing segment in the Tier 2 cities as well as premium housing segments where we operate. Also, with the financial year nearing its end, this step will encourage home buyers to invest in real estate keeping in view the tax benefits.

Mr. Rishi Jain, Managing Director, Jain Group

It’s a very encouraging budget for the real estate sector. The key reform being stamp duty extension … this single reform has led to the improvement of the real estate segment significantly. West Bengal is at the forefront of the development of infrastructure and real estate. It is proof of the optimism and pro-industry sentiment that the businesses are currently experiencing. It’s an upbeat and business-friendly budget.

Mr. Sanjay Jain, MD, Siddha Group

I congratulate the State Government on presenting a balanced budget. The emphasis that the Government has put on infrastructure development and real estate is commendable. The extension of the rebate in stamp duty till September 2023 will definitely accelerate the sale of real estate properties. The allocation of Rs 3000 Cr for road construction and maintenance in the rural sector is also a welcome step.

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