Connect with us


Monthly real estate monitor by JLL

Anuj Puri

The following is the report by Anuj Puri, Chairman & Country Head, JLL India

The Finance Minister has definitely tried to manage expectations by having a balanced budget. While major expectations i.e. increase in HRA deduction, removal of Dividend Distribution Tax (DDT) from REITs and boost to affordable housing by allowing 100 per cent deduction on profits made by entities constructing them have been addressed, no financial protection was offered to buyers from project delays.

Real Estate Investment Trusts (REITs) could become a reality soon – The DDT got exempted, clearing a final hurdle on the way of the successful listing of REITs in India.

Boost to affordable housing developers – 100 per cent tax deduction has been announced for developers building houses up to 30 sq m in four metro cities and 60 sq m in other cities, for projects approved between June 2016 and March 2019 and is completed within 3 years of the approval.

Digitisation of land records – There is a clear emphasis to make land records more transparent and this is an important parameter that contributes towards the overall transparency in real estate sector in India.


Road infrastructure and new land opening up – Budget has adopted measures to significantly step up NHAI capabilities. Infrastructure creation – The Budget has outlined revival plans for nonfunctional airports in partnership with state governments, with a vision to spend around Rs 100-150 crore on each airport. This will boost the infrastructure in many tier-II and tier-III cities.

Release of land – Going by today’s Budget announcements, Central PSUs are going to be encouraged to reduce their exposure to excess land holdings.

Retail sector – Unorganized retail could receive a fillip, as smaller shops will now also be given the option of remaining open for all 7 days of the week, like organized malls. Office occupancy perspective – The Budget made a strong case for promoting start-ups in India with 100 per cent tax rebate on profits announced for them for three years.

Latest News

News9 hours ago

UP Real Estate Appellate Tribunal’s “Online Justice Delivery System” awarded for Innovative Technology for Smart Governance by Computer Society of India

U.P. Real Estate Appellate Tribunal’s “Online Justice Delivery System” has been awarded for Innovative Technology for Smart Governance and selected...

News1 day ago

52% NRIs see Indian commercial properties emerging as a new asset class

The Indian real estate segment demonstrates an upward trajectory with the projection to exhibit a growth rate of 9.2% CAGR...

Guest Column1 day ago

Welspun Gp acquires Sintex BAPL

Mumbai, March 30, 2023: Welspun Group has acquired the plastic industry market leader, Sintex.  Sintex’s auto business already has a...

New Launches1 day ago

Naiknavare Developers launches Avasa, new vertical of structured plots; commences e-commerce platform designed for plotting

Pune, March 30, 2023: Naiknavare Developers, renowned for its well-thought-out community-centric residential and commercial projects in Pune, Mumbai, and Goa, today announced it...

News1 day ago

Residential demand up 14.2%, supply grew 1.9% YoY: Magicbricks PropIndex Report, Jan-Mar’23

New Delhi/Noida, March 30, 2023: Continuing on the path of resilience and overall growth, India’s residential demand increased 14.2% and...

News1 day ago

Mahindra Life transacts with Alliance Gp for 9.24 acres at Mahindra World City, Chennai

New Delhi, March 29, 2023: Mahindra Lifespace Developers Ltd. (MLDL), the real estate and infrastructure development business of the Mahindra...