Real Estate Industry Seeks Key Tax Reforms in Upcoming Budget

By –  Mr Dhaval Ajmera Director Ajmera Realty Infra India LTD

“The real estate industry looks forward to the next budget with high expectations for supportive measures to sustain growth. Key demands include deductions for first-time homebuyers, rationalized stamp duties, broader tax reforms, and reinstating the focus on an updated affordable housing definition. Providing tax clarity for SM REITs and incentivizing fractional ownership structures are critical steps to boost investment.

Reducing LTCG rates on property from 20% to 10% and lowering GST rates on under-construction properties and raw materials would ease financial pressures on developers and homebuyers alike.

Infrastructure projects like the Coastal Road, Metro expansion, and Navi Mumbai International Airport are set to decongest traffic, creating new residential and commercial hubs and driving property demand in the area. Such policies to develop infrastructure can foster favorable conditions and boost the real estate sector, enhancing investment potential in metropolitan areas.

Lastly, incentives for green and sustainable real estate initiatives and subsidies for affordable housing are highly anticipated to stimulate growth and support economic stability.”