Real estate players were left disappointed with this year's Union Budget, as no short term benefits seemed to be in sight for the industry.

The government's focus on development of infra projects, means that real estate might see benefits only in the long run. "But the need of the hour was to actually break the vicious cycle of economic slowdown that has adversely impacted the real estate market in the last few years," said Pankaj Kapoor, managing director of Liases Foras. "Our statistics have shown that nearly 13 lakh housing stock remains unsold in the country, of which 7 lakh fall under the affordable housing category. In the Mumbai Metropolitan Region alone, a total of 2.83 lakh stock, which includes one lakh affordable homes, remains unsold," explained Kapoor.