Real estate players seek a host of benefits from the upcoming Budget

Source: Business Standard

During 2023, the Indian real estate sector — both housing and commercial — witnessed buoyancy fuelled by demand, supply, and absorption, and the sector is banking on the upcoming Budget to keep the momentum going.

Mumbai-based Sattva Group focused on the critical pillars for long-term growth. The company emphasised on the infrastructure boom with increased allocation, lower goods and services tax (GST) rates, incentives for affordable housing and single-window clearance to fast-track projects and support liquidity. 

“We expect an infrastructure boost as a result of increased allocations, recognising the direct impact on property values and demand. Tax reforms are a top priority, with hopes for lower GST rates and expanded deductions to boost demand and investment,  "said Bijay Agarwal, managing director (MD), Sattva Group." A firm commitment to single-window clearance aims to reduce roadblocks and speed up projects. RERA amendments are anticipated to enhance regulatory mechanisms. With optimism, we await".