The GST Council is expected to clarify that the Real Estate Regulatory Authority (RERA) will be exempt from GST. This decision follows concerns that GST effectively taxes state governments.
Mumbai's property tax remains unchanged for the fiscal year 2024, providing relief to homeowners amidst ongoing financial challenges, according to the state cabinet's recent decision.
The real estate industry hopes for tax breaks, a broader definition of affordable housing, and increased retail participation in REITs in Budget 2024.
Union government may confer infrastructure status to housing sector in upcoming budget, aiming to provide affordable homes and boost supply.