<p _fromclip="id_c753bf1318c1">By Praveen Shetty</p>.<p _fromclip="id_5369f607efc2">2019 was an eventful year for the real estate market and there are high expectations from the upcoming budget. However, it needs a more significant push for a robust development as it contributes largely to the country's GDP. With GST, stamp duty, income tax, and capital gains tax already a burden on homebuyers; an income tax rebate could be provided for new home buyers. The real estate sector has been going through a cash crunch and the current NBFC crisis has worsened it.</p>.<p _fromclip="id_5369f607efc2">Therefore the industry hopes, the government will help the sector in raising funds from other sources by relaxing norms. Including ITC benefit in GST for under-construction homes will be a great incentive to reduce property prices and make under-construction homes attractive again. Timely completion of projects has always been a concern, and a single-window clearance will help to swiftly execute projects making it a win-win situation for developers and homebuyers. We hope for a budget that is conducive and propels the growth of the economy, boosts the real estate sector, benefits the homebuyers and provides relief to the developer community.</p>.<p>(Author is Vice President - Marketing at Runwal Group )</p>
<p _fromclip="id_c753bf1318c1">By Praveen Shetty</p>.<p _fromclip="id_5369f607efc2">2019 was an eventful year for the real estate market and there are high expectations from the upcoming budget. However, it needs a more significant push for a robust development as it contributes largely to the country's GDP. With GST, stamp duty, income tax, and capital gains tax already a burden on homebuyers; an income tax rebate could be provided for new home buyers. The real estate sector has been going through a cash crunch and the current NBFC crisis has worsened it.</p>.<p _fromclip="id_5369f607efc2">Therefore the industry hopes, the government will help the sector in raising funds from other sources by relaxing norms. Including ITC benefit in GST for under-construction homes will be a great incentive to reduce property prices and make under-construction homes attractive again. Timely completion of projects has always been a concern, and a single-window clearance will help to swiftly execute projects making it a win-win situation for developers and homebuyers. We hope for a budget that is conducive and propels the growth of the economy, boosts the real estate sector, benefits the homebuyers and provides relief to the developer community.</p>.<p>(Author is Vice President - Marketing at Runwal Group )</p>
