“This government is focused on removing housing poverty from India and has already rolled out subsidies through Pradhan Mantri Awas Yojna. Initiatives such as the RERA Act and the Benami Transactions Bill are likely to boost the real estate sector in the coming FY. In the upcoming budget, we expect clarity on GST rates to know which rates will be applied to the real estate sector. Also, we are expecting benefits for the affordable housing sector so that there is no negative impact of GST. Post the GST rollout, there is also an expectation of clear framework of rebates on taxes applicable for affordable housing. Significant tax reforms and a reduction in the corporate tax will also be welcomed. Post the demonetization move, we expect to see more incentives on home loans by way of increase in tax deduction limit for housing loans. In order to achieve PM’s dream of ‘Housing for all by 2022’, the government must look at classifying the affordable housing sector as infrastructure so that it attracts more foreign investments and eases the project finances for developers, keeping in mind that the real estate is one of the biggest employment generator of the country. ” – Sandeep Singh Gaur, CEO, Sheltrex Developers
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