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Budget 2024 for Real State Sector
What are the top expectations for the Real State Sector in the upcoming Interim Budget 2024-2025? Click on to financialexpress.com and get a comprehensive idea on our dedicated page Who Gets What. Navigate through a handy ready reckoner, meticulously crafted to provide a glance at previous Budgets declarations for the sector.
Budget 2024 Announcements for Real State Sector
Real State Sector
- Govt will launch a scheme for deserving sections of middle class to buy or build their own houses
- Over 70 per cent houses under PM awas yojana in rural areas given to women as sole or joint owners
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Budget Announcements for Real State Sector in FY2024
Real State Sector
- States and cities encouraged to undertake urban planning reforms and actions to transform cities into ‘sustainable cities of tomorrow’.
- Through property tax governance reforms, cities will be incentivized to improve their creditworthiness for municipal bonds.
Budget Announcements for Real State Sector in FY2023
Real State Sector
- Proclaimed completion of 80 lakh homes under the Pradhan Mantri Awas Yojana (PMAY).
- An allocation of Rs 48,000 crore has been earmarked for PMAY, covering both urban and rural areas in the fiscal year 2023.
Budget Announcements for Real State Sector in FY2022
Real State Sector
- The DFI announced its goal to establish a lending portfolio of at least five lakh crore rupees for financing infrastructure projects
- A National Monetisation Pipeline revealed, showcasing potential infrastructure assets, among them the dedicated freight corridor assets of the railways.
- It has been publicized that foreign portfolio investors will be enabled to provide debt financing for real estate and infrastructure investment trusts, aiming to facilitate easier access to finance in the infrastructure and real estate sectors.
Budget Announcements for Real State Sector in FY2021
Real State Sector
- 6,500 projects under National Infrastructure Pipeline to cover housing, safe drinking water, healthcare, etc.
- Introduction of National Logistics Policy to define roles of central & state governments and key regulators, establishing a single window e-logistics market.
- Collaboration with states for the development of five new smart cities through public-private partnership mode.
Budget Announcements for Real State Sector in FY2020
Real State Sector
- TDS threshold for tax on rent increased to Rs. 2,40,000 from Rs. 1,80,000.
- Announced expansion of capital gains rollover benefit to investment in two residential houses (up to Rs. 2 crore).
- Proclaimed extension of tax benefits for affordable housing under Section 80-IBA of Income Tax Act until 31st March, 2020.
- Extension of tax exemption period on notional rent for unsold inventories from one year to two years.
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