NEW DELHI (INDIA):Century Real Estate MD Ravindra Pai said that budget has been good for the realty sector in general. Key reforms being the infrastructure status for Affordable Housing and lowering the tenure for long term capital gains tax to 2 years.
“Also, the incidence of tax for Joint Developments has been clarified which had given rise to a lot of litigations in recent times with the department,” he said.
The Union Minister for Finance and Corporate Affairs, Arun Jaitley presented the General Budget 2017-18 in Parliament here today. This is the first of its kind which included the Railway Budget. This year’s Union Budget also does not have Plan and Non-plan classifications and has been advanced by a month to the beginning of February.