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Budget 2019-20 Neglects Commercial Real Estate – RealtyMyths

by Akhilesh K Prasad Budget 2019-20 has been hailed as a blessing for home buyers and residential real estate developers. It has provided a good mix of direct and indirect incentives, especially with respect to affordable housing in keeping with the government’s flagship initiative of ‘Housing for All by 2022.’ Income tax exemption, an extension of benefits u/s 80-IBA, exemption of tax on notional rent an extension of roll-over benefits on capital gains to two properties were the salient announcements in this direction. However, the same Budget has been criticised by experts for neglecting commercial real estate market in India. Co-working space is considered a booming segment in realty. There was no announcement to bolster this segment even in planned smart cities. While the government an...

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