Categories: Budget

Pre-Budget Expectations for the Real Estate Sector by Mr. Bhushan Nemlekar – Director, Sumit Woods Limited

New Delhi, January 23, 2021: There were several measures announced by the State and Central Government in 2020 to beat the unprecedented impact of the COVID-19 pandemic on the overall economy and the real estate industry. Looking forward to this Union Budget, the residential segment of the realty space is expected to show signs of improvement if the Government can include expansion of the current income tax benefits available for home-buyers, increase the interest deduction to 3 lacs from current 2 lacs especially for the first-time buyers.

The budget could consider further steps to improve affordability which will boost the affordable housing segment and contribute to the Government’s ‘Housing for All’ initiative. In order to continue attracting investor interest, the sector would be expecting measures for removing taxation related inefficiencies. We expect the Government to consider some relaxation in GST and should also introduce input tax credit on under-construction properties that would further stimulate the sector. It should introduce effective reforms that will help to ease the liquidity crunch that had a cascading impact across sectors, including real estate. The additional measures will surely spur the demand for investment in the coming quarters.

Corporate Comm India (CCI Newswire)

The Property Times News Bureau

Recent Posts

NAREDCO Maharashtra NextGen Ties Up with Brigade REAP to Strengthen PROPEL, Empowering Emerging Entrepreneurs in Real Estate

Brigade REAP Incubates 76 Proptech Startups, Leading India's Largest Proptech Ecosystem with ₹200 Cr Earth…

9 hours ago

Dr. Gautam Kanodia: Redefining Luxury Real Estate with KREEVA

New Delhi, November 22, 2024: Dr. Gautam Kanodia has emerged as a visionary leader, redefining…

9 hours ago

The Rise of Premium Luxury Residences: How NCR is Setting New Standards

New Delhi, November 21, 2024: Over the years, Delhi-NCR has emerged as a hotspot for…

2 days ago

3A Composites’ Flagship BrandALUCOBOND Launches a Premium Product ‘ALUCODUAL®’

~ The Company strengthens the product portfolio with the launch of innovative & ‘Made in…

2 days ago

Government Policies and Housing Premiums Under Spotlight in latest Mumbai Realty Report

- NAREDCO Maharashtra and 1 Finance Unveils Comprehensive Study on Mumbai's Real Estate Landscape -…

2 days ago

Onward Workspaces Expands with leasing 18,000 Sq. Ft. Premium Facility at Emaar Capital in Gurgaon, Catering to Global Enterprise

The announcement marks a major step in offering Flexible Grade-A Office Solutions for Modern Businesses…

2 days ago