'Budget should bring clarity on GST levied on rent'

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By Viral Chhajer

"With the upcoming budget, we're expecting some clarity on GST levied on construction costs primarily for assets being built to rent for residential purposes. With Co-living now becoming a mainstream asset class in real estate investing, we're hoping policymaking keeps pace with the increasing demand for co-living spaces in the country.
The budget should also bring some clarity on the funding issues faced by most developers today with most NBFC's pulling the plug on construction financing. All in all, we hope for clarity across the real estate investing and financing space with a special view on Co-living and its contribution in solving for a millennial living."

The author is Co-founder & CEO at StayAbode Ventures.

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