Budget Discussions Continue: Govt Weighs Options for Real Estate Relief
The Indian government is deliberating on two relief options for the real estate sector amidst concerns over removing indexation. The options include extending grandfathering till July 2024 and allowing developers to choose between old and new LTCG regimes.
Tue, 06 Aug 2024
The Indian government is currently deliberating on two relief options for the real estate sector amidst concerns over the removal of indexation for real estate. According to a tweet by Shereen Bhan, the government prefers to extend "grandfathering" till July 2024 as a means of providing relief.
Additionally, the government is also considering an option that would allow real estate developers to choose between sticking with the old Long-Term Capital Gains (LTCG) regime or switching to the new one. This decision, however, has not been finalised yet and is subject to change based on further discussions.
Sources: Govt prefers grandfathering till July 2024 as relief to counter removal of indexation for real estate; decision not finalised
— Shereen Bhan (@ShereenBhan) August 6, 2024
Govt also weighing if option can be given to stick with old or switch to new LTCG regime for real estate;Decision not finalised. Demand for…
The demand for relief from the real estate sector has prompted the government to explore these options. The final decision is expected to be taken soon, with Finance Minister likely to respond to the finance bill today or tomorrow. The developments are being closely watched by industry experts and stakeholders who await clarity on the matter.
As budget deliberations continue, the fate of the real estate sector hangs in balance. While the government weighs its options, the real estate industry remains hopeful that some form of relief will be extended to mitigate the impact of the removal of indexation for real estate.
Published by Chronicles Of India. Scroll down to read more