For Quick Alerts
For Daily Alerts

Budget Expectations From Real Estate Sector


The real estate sector was hard hit in the year 2018. A significant contributor to the country's economy with its ancillary industries, it creates jobs directly as well as indirectly. In the recent past, the external risk factors like that from the crisis in NBFC, the industry was faced with liquidity and funding problems apart from prevailing tax policies. In the interim budget, set to be presented on 1 February, the sector is hoping that its concerns will be addressed by the government.

According to Ashish R. Puravankara, Managing Director at Puravankara Ltd., the key budget expectations from the real estate fraternity are:

Budget Expectations From Real Estate Sector
  • No cap for loss from house property; The limit set-off for loss from house property of 2 lakh should be removed
  • A roadmap to execute the 'infrastructure status' afforded to the industry in the previous budgets.
  • Further extension should be given for availing benefits falling under Sec. 8O-IBA for Affordable Housing Scheme / Housing For All
  • Differential GST rate for apartment value for more than Rs 7000 per sq. ft.
  • Abolition of GST payable by the landowner in a Joint Development agreement
  • Abolition of tax on the unsold inventory
  • Abolition of MAT on adjustment due to Indian accounting standard (IndAS) implementation
Apart from the above, developers are looking for incentives for home buyers so as to push the sale numbers that were more or less stagnant in the year 2018.

Company Search
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more