The budget was largely disappointing for real estate industry which was expecting major boost from this budget by way of some major relief in personal income tax or input credit under GST for the real estate projects.
However, provisions like establishing "Bad bank" would expedite resolution of stressed real estate assets, monetisation of PSU land bank will bring substantial land supply in major cities , extension of tax exemption of affordable housing projects and additional interest deduction under section 80EEA is major relief to this segment.
Ahmedabad is poised to become now major IT hub the country with major real estate transactions taking place at GIFT city and now government pushing GIFT city to be a wold class FINTECH hub through tax concessions in this budget.
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