Budget 2024: Noida real estate developers expecting tax cuts on cement

Real estate developers in Noida and Greater Noida in western Uttar Pradesh expect the first Budget of the Modi 3.0 government to accord 'industry status' to their sector for easier access to funds, and address woes related to GST, including the 28 per cent taxation on cement.

Hoping for "nuanced approach" to real estate woes, the developers seek the government's support beyond fiscal incentives, with the upcoming Budget focussing on enhancing transparency and efficiency through a robust regulatory framework, streamlined approvals process.

Industry body CREDAI's western UP Secretary Dinesh Gupta said boosting the real estate sector with tax incentives, improved tax structures, and a single-window clearance policy will encourage further investment from both domestic and foreign sources.

"Furthermore, tax reforms that lower income taxes for both corporations and individuals, simplify tax legislation, offer targeted incentives, expand the SWAMIH stress fund, and lower the GST rates on .