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Finance Minister P Chidambaram has announced the annual budget for 2013-14. While the analysts speculate the budget eying on forthcoming election or is an earnest effort to kickstart India's growth engine; the common citizen is concerned with whether the budget will make his/her life better. Various industries and sectors are also speculating the impact of union budget in the coming 12 months.

Fast growing real estate has become the face of major Indian cities like Mumbai, Delhi-NCR, Bangalore, Chennai, etc. and increasing urbanisation paves a way for healthy demand for the sector in the future. The role of realty is considered significant in India's economy. Along with considerable contribution to gross domestic product (GDP), realty also helps to improve infrastructure in India. Real estate contributed 10.6% to India's (GDP) in 2010-11. The dismal performance of the sector becomes evident form the fact that its share of contribution came down to 6.5% in the year 2012.

The real estate in India is at a crucial phase at present. While the real estate has been growing at a hurricane pace in the last decade or so, recent slump has put clouds of doubts hovering over the high rises of India. Sales have been dropping and the contribution of real estate to the economy has also slumped from 10.6% in 2011 to 6.5% in 2012. Although recent rate cut has been welcomed by the really players, the changes in Service Tax Act have made it more expensive to own a home.