“Populist and buoyant in the true sense, Budget 2019 has brought great cheer for the real estate sector in terms of benefits under Sec 80(i)BA being extended for one more year, for all housing projects approved till the end of 2019-2020. Implementation of RERA and the Benami Property Act lent transparency in the real estate sector and the real estate investments will receive an impetus due to the sops promised primarily in the form of tax relief particularly in affordable housing and in terms of the extension of notional rent exemption on unsold inventory for developers. We look forward to the government’s plan of action on reducing the GST tax burden of home buyers.

The Budget will also help home buyers as now the roll over capital gains has been raised from one house to house for an amount of Rs 2 crores and income tax on notional rent has been exempted for second occupied house. Rental exemption on TDS has been exempted up to Rs. 2.4 lakh which is a welcome move. Further, the government’s commitment to build next-generation infrastructure – physical as well as social will significantly improve the Ease of Living in our country.”