Budget expectation and Real Estate GST related queries from Kamal Khetan, Chairman & Managing Director, Sunteck Realty Ltd.

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New Delhi, July 09, 2024: To benefit home buyers, the Government of India should consider lowering GST rates to increase demand for under-construction developments. Additionally, reintroducing Input Credits would help developers reduce the tax burden and in turn benefit the customers, which further would also ensure a good supply of residential developments.

The sector is also hopeful that the long-awaited proposal for the digitization of land property records and implementation of a unique land identification number will be passed. These measures are seen as crucial for improving transparency and efficiency in real estate transactions.

Corporate Comm India (CCI Newswire)