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Thursday, 21 January 2021 / Published in Articles & Blogs, Real Estate Industry

Budget 2021 Expectations LIVE: What India Inc. wants from Modi government, Nirmala Sitharaman?

Budget expectations 2021

Publication: Zee Business, 20th Jan 2021

Budget 2021 Expectations LIVE: Nishit Jalan, CEO, Grovy India

“The year 2021 is expected to be the year of revival of the real estate sector. This year has started on a positive note and to maintain the momentum, the industry is expecting innovative and path-breaking announcements. This year’s budget needs to focus on bringing the cash flow back into the real estate industry by encouraging young and first-time home buyers, and investors. The budget needs to address the cash flow crunch in the industry and accede to the long-standing demand of granting industry status to the sector.

Further to reduce the burden on the homeowner, the stamp duty needs to be revised on a national level.
Changing the GST slab of sale of the under-construction property to nil rated GST, even for a limited period of time will go a long way in improving cash flow for under-construction properties. Providing income tax relief for home buyers on a second home will allow more people to invest in the sector and give a boost to holiday homes specifically.”

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