Budget watch: Real estate sector wants industry status, tax relief

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With the industry status, these small builders will get the status of MSMEs and will be able to access lower-rate loans," he said.

According to the Ministry of Housing and Urban Poverty Alleviation, affordable housing is defined based on property size, price, and buyers’ income.

Also, for housing projects, barring the affordable housing segment, the Goods and Services Tax of 5 per cent is applicable without the input tax credit (ITC).

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Category: BusinessFinance

Markets: India

Topics: GDP forecast State of Indian economy Finance ministry India's budget Nirmala Sitharaman Budget watch Union budget Budget 2024

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-12 @ 08:18:34 (2 weeks ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 651 words

Reading Time: 4 minutes read

Sentences: 19 lines

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Copyright Owner: © Business Standard

News ID: 21580490

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