Budget 2024: Tax cuts and lower rates top developers’ Budget wishlist to build Viksit Bharat

Real Estate Budget Expectation: The upcoming Union Budget 2024 is eagerly awaited by real estate developers who are hoping for tax rationalization and interest rate reductions to enhance financial viability. Key expectations from Budget include addressing affordable housing definitions, allowing unlimited interest deductions, and reducing GST on essential construction materials. Commercial real estate players are requesting GST reduction on steel and cement, as well as lower TDS rates on coworking spaces to manage costs effectively. As the Budget approaches, the industry is hopeful for measures that will support growth and address critical concerns.