Real estate developers have welcomed the implementation of Goods and Service Tax (GST). According to them, the GST will greatly improve a fractured tax system and help create an integrated Indian market. The government has always made it clear that leasing of land, renting of buildings as well as EMIs paid for purchase of under-construction houses will start attracting the GSTax.
The sentiment on Indian real estate among both domestic and international investors has improved in recent times following the election of a new government and upturn in consumer demand, says the Emerging Trends in Real Estate® Asia Pacific 2015
Post the interim Budget, where a number of positive announcements were made, the macroeconomic indicators have improved with inflation and industrial growth showing positive signals. The coming Budget is expected to continue with positive policy changes in order to improve business environment and give strong push to growth. Government has been moving steadily on Smart Cities and the Budget will have a lot of announcements on this front including the broader contours.