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The Budget 2024 has unveiled transformative changes in the real estate sector, significantly impacting developers like Goel Ganga Developments. Key highlights include increased funding for affordable housing, new tax incentives for first-time homebuyers, and substantial investments in urban infrastructure, particularly in tier-2 and tier-3 cities. The budget also emphasizes sustainable construction with incentives for green building initiatives, streamlined regulatory processes, and the expansion of digital land records.
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BUDGET 2024: MAJOR REAL ESTATE TRANSFORMATIONS ANNOUNCED 1 2 AFFORDABLE HOUSING BOOST TAX INCENTIVES New tax breaks for first- time homebuyers and investors in affordable housing Increased funding for affordable housing projects, making homeownership more accessible. 3 4 GREEN BUILDING INITIATIVES URBAN RENEWAL FOCUS Significant investments in urban infrastructure & redevelopment, especially in tier-2 & tier-3 cities. Incentives for developers to adopt sustainable and eco-friendly construction practices. 5 6 REAL ESTATE INVESTMENT TRUSTS (REITS) DIGITAL LAND RECORDS Expansion of digital land records to streamline property transactions and reduce disputes. Enhanced regulations and tax benefits to encourage investment in REITs. 7 8 INFRASTRUCTURE CONNECTIVITY REGULATORY REFORM Simplification of real estate regulatory norms to accelerate project approvals and reduce red tape Increased budget allocation for improving connectivity to emerging real estate hubs. https://goelgangadevelopments.com/
