The Union Budget 2015-2016 has provided a major impetus to the Infrastructure sector. Extension of these benefits to the real estate sector, especially to the affordable housing segment would have helped achieve the goal of housing for all.
Focus on implementation of GST by April 2016 and reduction in corporate tax and benefits to middle class tax payers have been at the forefront of the new government’s agenda. We are happy that contribution to REITs is exempted from capital gains. Setting up of Benami property transaction bill to tackle black money transaction in real estate is also a welcome move by the industry.