INDIA
Industry stakeholders share perspectives on their wish lists with Sheetal Shelar Patil
When the budget is just a weekend away, all the real estate industry stakeholders - be they builders, buyers, bankers or bureaucrats - share expectations and wish lists. Some of the leading analysts have listed out key aspects that could have maximum implications for all.
Shishir Baijal, Chairman and Managing Director, Knight Frank India, points out that presently real estate falls under 18% tax bracket of the Goods and Services Tax (GST) Act with 1/3rd abatement for land. However in major metros, the share of land is more than 50% of the project cost. He shares, “We therefore recommend that the government aligns this with market realities and accordingly increase the abatement for land to 50%.”
Anshul Jain, Country Head & Managing Director, India, Cushman & Wakefield, emphasises, “To revitalize the housing market, first home buyers need to be incentivized. At present, a first homebuyer can claim an additional tax deduction of up to Rs 50,000 per year for a loan amount less than Rs 35 lakh and for a house value less than Rs 50 lakh. This limit of Rs 50 lakh is on the lower side and would exclude a large chunk of homebuyers and such houses will be available only in peripherals of most metros. In the budget, the government should increase house price limit, and the tax exemption limit in accordance to the home loan taken. Additionally, the government should consider increasing the deduction limit of interest paid on home loan from Rs 2 lakh to Rs 3 lakh. This will give a push to homebuyers who are on the fence, and in the long run, clear inventory with developers.”
Shrinivas Rao, CEO-Asia Pacific, Vestian, opines that for the common man, the budget announcements should include a change in tax slabs, more incentives for home loans, principal and interest exemptions, making home insurance mandatory and tax exemption on same. “The real estate sector would ideally look forward to the budget reducing the long -term capital gains holding period for REITs from three years to one year. This would bring the investment opportunity at par with equity investments and would make REITs more palatable to investors,” he feels.
Sharda Sinha dies at 72: Who are there in her family?
Who was Sharda Sinha aka Bihar Kokila, famous for Chhath and Maine Pyar Kiya songs?
Bihar Kokila Sharda Sinha passes away in AIIMS, son Anshuman confirms news
Parliament's winter session to begin from Nov 25, to continue till Dec 20
IPL 2025 mega auction dates announced: Check no. of players, venue, where to watch and more
Deepinder Goyal reveals customers' reaction to wife Grecia Munoz delivering Zomato orders
Infosys founder Narayana Murthy flirts with Sudha Murty in viral video from Kapil Sharma show
Ajay Devgn's fans don't want Singham Again to become a blockbuster: 'Rohit Shetty jab tak hai...'
Types, Most Popular and Where to Buy Peptides for Bodybuilding
Luxury in the City of Light: SABO Boutique Hotel Brings Elegance to Varanasi’s Sacred Ghats
Virat Kohli, Babar Azam could play for same team as Afro-Asia Cup set for revival
Shaping the Future of Web Apps: Full Stack Developer’s Expertise in API Design and Cloud Deployment
The Role of Artificial Intelligence in Enhancing Software Performance and Security
Mastering Linux for Superior Sound
Amid divorce rumours of Abhishek Bachchan and Aishwarya Rai, Aaradhya praises mother in viral video
AI in Data Warehousing: Future Trends and Innovations
Mukesh Ambani's Reliance Jio IPO worth Rs 840960 crore in 2025: All you need to know
After India's 0-3 loss against New Zealand, Shah Rukh Khan calls Gautam Gambhir...
BIG revelation on Imane Khelif, Olympic gold medallist boxer's medical repot leaked, it confirms…
Meet man who built Rs 152000 crore company, donated Rs 100 crore, now set to lead US firm as...
Visa Uncertainty: Impact of US polls on global talent
Virat Kohli turns 36: IPL franchises send heartwarming birthday wishes to legendary India cricketer
Meet Sanjay Verma, the new DGP of Maharashtra who replaced Rashmi Shukla
Anushka Sharma shares FIRST photo of Akaay, Vamika to celebrate Virat Kohli’s birthday
CAT 2024 admit card to be out today at iimcat.ac.in; know release time, steps to download
Vikas Divyakirti UPSC Tips: Check strategy to crack IAS exam, aspirants should study for...
Video of Pakistani man putting hand into chained tiger's mouth goes viral, social media reacts
Shalini Passi reveals her husband's connection to Shah Rukh Khan's wife Gauri Khan, they were..
SC upholds validity of UP madrassa law, says it does not violate principle of secularism
US Presidential Elections 2024: What time do the polls close; when will the results be known?
Elon Musk shares controversial post on X amid US election results, video goes viral
Mukesh Ambani's company earned Rs 15393 crore last week, his net worth now stands at...
Chhath Puja 2024: Know about Kharna, Sandhya Arghya, Usha Arghya, date, timings and puja vidhi
Virat Kohli Birthday: Legendary batter turns 36, here's a look at his incredible milestones
When Ratan Tata met his first true love after 50 years, went for dinner together, know who she was
Samantha Ruth Prabhu hits back at trolls who body-shamed her: 'If you guys...'
Two fall prey to Narayana Murthy and Mukesh Ambani's deepfake videos, lose Rs 80 lakh: Report
North Korea fires multiple ballistic missiles toward sea ahead of US election
Deepika Padukone romances Hrithik Roshan in Bikini, looks sizzling hot in UNSEEN viral video
Chhath Puja 2024: Top 50 wishes, What'sApp messages, quotes to share with your loved ones
Meet Caroline Emmons, Ratan Tata's 'first love' with whom he couldn't marry due to...
Who is Rohan Jaitley, frontrunner to replace Jay Shah as BCCI secretary?
World’s most expensive human tooth is valued over Rs 3000000, it belonged to…
Viral video: Little girl’s adorable dance to Lisa Haydon’s 'Manali Trance' impresses internet, watch
SC to deliver its verdict on pleas against Allahabad HC order scrapping UP madrasa law today
DNA TV Show: Why Election Commission changed Assembly by-elections' dates
Days after imposing fine on Anil Ambani, Sebi now issues Rs 130 crore demand notices to...
Thailand announces indefinite visa-free entry for Indian travellers
Meet daughter of billionaire, who studied in UK, now works in Rs 32770 crore Indian company as...
MUDA case: Lokayukta police summon Karnataka CM Siddaramaiah for questioning on...
This city is 4000 years old, belongs to bronze age where 500 people lived, it is located in...