The year 2022 will be the year of recovery for the Indian real estate sector. This year’s Budget should focus on the upliftment of the startup sector and designate commercial real estate under the infrastructure category.
Sumit Lakhani, CSMO, Awfis, shares his hopes from the Budget 2022-2023. He states his expectations and that the Budget should push for infrastructure, especially in Tier 2 and 3 markets. He further adds that the Budget should have something for the upliftment of the startup sector, especially in the aftermath of the pandemic.
Speaking about taxation, Mr Lakhani has shared that reducing GST for lease rentals of office spaces for startups would be a welcome step.
He also emphasises the fact that India ranks low when it comes to ease of doing business. Labelling commercial real estate as a part of the infrastructure sector could help the real estate market to grow. It will aid in ease of doing business, simplify credit access and reduce of cost of borrowing for developers.
This story appeared in the 26 January, 2022 issue of 99acres and was originally published at : Budget ’22 expectation: Infrastructure tag for commercial real estate (99acres.com)