5 Betterment Budget Plans 2016 for Increasing the Commercial Property in India

With real estate becoming one of the important commerce in India, the business is proficiently able to contribute 8.53% of the the countries total GDP. The Following article would iterate what promises have 2016 budget claimed for the real estate developers.

Since the builders and developers have taken a lot of interest in offering the investors various attractive Commercial properties in India, people too have shown a great enthusiasm in investing a lot here. Commercial properties are available at affordable rates and in various forms like commercial shops, shopping plazas, malls, industrial land, business floors, official spaces etc. These are available at different locations in India for sale and rent purposes. Government too has contributed in a lot to help real estate business to groom more and following have been decided under the budget scheme of 2016:

1.       1)  A real estate regulatory bill has been framed that would assist in bringing the business in the prime focus and give it the required attention. There has been news that an announcement pertaining the right budget assignment and time specified schemes would be proposed for the state supervisors.

2.      2) GST practice would be suggested so that the different taxation locations can be updated. This would further help in making a viable revision of the rates too that can be used for bettering the housing and commercial plans.

3.      3) The Dividend Distribution Tax (DDT), which is seen as an important factor for REIT, would be done away with in order to help the developers relate India in the REIT listing.

4.       4) A speedy clearance to all the projects so that the investors whether retail or Individual do not suffer from any loss due to the unwanted delays and stagnant projects.

5.      5)  ESOPs and Angel Capital gains tax should be handled with excellence according to the market investments, motivating the angel investment for the starters and inspiring the something good for the employees working in these new ventures.

These are some of the major decisions taken for the betterment of Commercial Real Estate Property Market Sale in India developers and builders who are trying their best to stand India at the top of the list. Also some compensation is planned for the developers and builders of residential projects. Tax is excused on the interest on the home loans and some incentives should be given to the buyers and builders for home insurance. These are some of the relaxation that are ascertain in the budget plan 2016 in favor of the real estate sector.