Incentivize homeownership and affordable housing



a close up of a cell phone: There is also an urgent need to further streamline the Goods and Services Tax, which is applicable at 1{ac967ad544075fb2f6bcea1234f8d91da186cac15e616dc329e302b7c7326b8c} for affordable homes and 5{ac967ad544075fb2f6bcea1234f8d91da186cac15e616dc329e302b7c7326b8c} for other segments.


© Provided by The Financial Express
There is also an urgent need to further streamline the Goods and Services Tax, which is applicable at 1{ac967ad544075fb2f6bcea1234f8d91da186cac15e616dc329e302b7c7326b8c} for affordable homes and 5{ac967ad544075fb2f6bcea1234f8d91da186cac15e616dc329e302b7c7326b8c} for other segments.

Indian Union Budget 2021-22: It won’t be an overstatement to say that the real estate industry forms one of the key pillars of the Indian economy. Estimated to be worth more than $180 billion at present, the sector is projected to reach a market size of $1 trillion by 2030 and contribute around 13{ac967ad544075fb2f6bcea1234f8d91da186cac15e616dc329e302b7c7326b8c} to the national GDP. Over the past few years, however, real estate in India has had to deal with several large-scale policy changes-such as demonetization, the GST implementation, and the RERA Act-that have impacted its growth. The sector was only beginning to bounce back from the impact when the COVID-19 pandemic hit in 2020, completely disrupting the demand and supply value chain.

Almost an year on from that defining moment and 12 months of significant disruptions, uncertainty, and innovation, green shoots of recovery have started to emerge in the Indian real estate industry. The sector posted its best performance in Q3 2020 on the back of the surge in demand for residential real

Read More