The Budget has also made investing in real estate sector attractive once again by scrapping dividend distribution tax (DDT) – Mr Aman Singh Gehlot, Director, Ambience Group

Bengaluru, March 19, 2016: “The Union Budget 2016 Has Allowed 100% Deduction For Profits To An Undertaking From A Housing Project For Flats Upto 30 Sq. Metres In Four Metro Cities And 60 Sq. Metres In Other Cities. This Shows The Government’s Commitment Towards Its Promise To Provide Housing For All By 2022. Other Proposals In The Budget Like Additional Exemption Of Rs. 50,000 On Housing Loans Upto Rs. 35 Lakh For Purchase Of Houses Costing Upto 50 Lakh, Service Tax Exemption For First Time Home Buyers And The Focus On Affordable Housing Are Likely To Lift Buyer Sentiment In The Real Estate Sector And Give A Much Needed Boost To Sales Of Housing Units. The Budget Has Also Made Investing In Real Estate Sector Attractive Once Again By Scrapping Dividend Distribution Tax (Ddt) Component For Real Estate Investment Trusts (Reits). This Will Make Reits An Attractive Investment Option And Allow Developers To Monetize Their Projects.”

Mr. Aman Singh Gehlot, the 28 years old young and dynamic face of Ambience Group, and a qualified Chartered Accountant is the truesuccessor into the footsteps of his father, who has contributed immensely towards the innovation of all the projects he has been a part of over a period of more than 7 years. Mr. Aman Gehlot has been initiating the marketing strategies in the company and has many successfully executed projects like the Leela Ambience Gurgaon, Kempinski Ambience Delhi and Seven Star Luxury Condominium Project- ‘Caitriona’ to his credit.

Corporate Comm India (CCI Newswire)