Report
Monthly real estate monitor by JLL
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.
-
Interviews1 week ago
High Rental Yield, Price Appreciation, Stable Growth, Make Sydney an Ideal Realty Investment Option: Haansal Estate
-
News4 weeks ago
Transindia Real Estate To Sell Jhajjar Logistics Park, ₹ 636.71 cr+ Ent. Value
-
News2 days ago
Tenant Experience Platform, Aeria, Raises $1.8 m Pre-Seed Round Led by Kalaari and Foundamental Along With Others
-
News2 days ago
AIPL’s Business Club Secures Rs 100/sq ft Rental on Golf Course Extn Road, Gurugram
-
News16 hours ago
Kanodia Group Enters Real Estate; Targets Over Rs 5000 Cr Investment By 2028
-
News2 days ago
Managed Workspace Provider Table Space Appoints Jamshed Taraporwala to head BD
-
News6 days ago
Flex-space market size expected to touch 126 mn sq ft, addressing a $9 bn market by 2028: Avendus Capital Report
-
News23 hours ago
Housing Sales in Top 7 Cities Record 14% Yearly Rise in Q1 2024: ANAROCK Report