Hari Kishan Movva, Senior Vice President, SILA
“My first impressions of the 2023 Budget are that a status quo has been maintained with respect to the Real Estate sector. The focus on infrastructure development, especially urban infrastructure would have an indirect positive impact on the sector. Similarly, the reduction in tax outflow for individuals is also an indirect positive to the sector. Amendments in taxation of REITs / InvITs wherein distributions via repayment of debt have been included in taxable income reduce the net yield to REIT investors. The introduction of a limit of INR 10cr on capital gains exemption for the purchase of residential property under Section 54 & Section 54F is also a marginal negative for the luxury residential sector.”
