As the Finance Minister (FM) gears up for the budget tomorrow, here are some of the demands and expectations of the real estate sector.
If you ask any real estate developer what they would like from budget 2020, their wish list could go on and on. Below are the key expectations from the industry.
- First is to get on the same page as the government vis-à-vis affordable housing project, the industry wants an extension of the tax holiday granted to affordable housing projects approved after March 2020.
- Second is to increase home buyer sentiment and clear unsold inventory, an increase on that Rs 2 lakh tax rebate on housing loan interest is desired. Also an exemption of goods and services tax (GST) for first time home buyers and a follow-up on complete one-time exemption of capital gains tax on the sell of every residential unit.
- Last but not the least, the developers want urgent implementation of that Rs 25,000 crore alternate investment fund (AIF) so as to rescue stressed assets and ensure that the industry finds some solace and closure.