"Indian Real Estate Looks Forward to Budget Boosting Sentiment in Real Estate": Jitendra Mehta

The upcoming Union Budget, to be presented by Hon'ble Finance Minister Nirmala Sitharaman, presents an ideal opportunity for the Government of India to accelerate its 'Housing for All' initiative, said Mr. Jitendra Mehta, President of CREDAI MCHI Thane. "The Indian real estate sector, particularly Thane's real estate, is eagerly anticipating measures that will enhance the scenario for both homebuyers and real estate developers," he added.

Key Expectations:

  1. GST Set-off: Mehta highlighted the need for a GST set-off on redevelopment projects.
  2. Taxation on Redevelopment: Addressing the notional value of free flats given in redevelopment and the associated taxation are crucial issues Thane's real estate sector hopes the Finance Minister will resolve in this budget.

"Apart from measures that will directly boost the economy, we are looking forward to policy initiatives that will improve sentiment in the housing sector," said Mehta.

Infrastructure Development: Enhancing infrastructure such as roads, metros, waterways, tunnels, and railways helps expand metropolitan areas and boosts affordable housing. "Thane is a city that has benefited from infrastructure growth, and we look forward to the Union Budget bringing in further support for infrastructure projects," Mehta concluded.