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Most members in the Group of Ministers (GoM) of the Goods and Services Tax (GST) Council are not in favour of any relief to the real estate sector with regard to the tax incidence on collaborative ventures between developers and land owners.
India’s real estate sector hopes for a series of reforms and incentives that can drive growth and address longstanding challenges. Expectations range from increased rebates on home loan interest rates, GST rate reductions, single-window clearance systems, reduced property prices, and promoting off-centre locations.
The Indian real estate peaked in 2023. Industry experts believe that the bullish sentiments in the market will further continue in 2024 backed by a healthy macroeconomic outlook, stable lending rates, and an upbeat job market. To boost the real…