NITI Aayog plans to revive struggling real estate sector, seeks tax sops

The think tank has recommended interim relief from the GST for under-construction property nearing completion till March 31, 2019

Real estate may get a tax boost from the government, with the NITI Aayog, the government’s policy think tank, in consultation with the urban development ministry, making a case for a clutch of incentives for the sector, which is in the midst of a slowdown.

The incentives will be in the form of relaxations in direct taxes and the goods and services tax (GST).

The suggestions made to the ministry of finance are aimed at reviving the struggling sector.

The move comes after the meeting chaired by Urban Development Minister Hardeep Singh Puri last week. It was attended by heads