Budget 2015: Inclusion of real estate in GST will bring a lot of transparency, says Mohit Goel, CEO, Omaxe Ltd.

With the Union budget for 2015-16 round the corner, the real estate sector is ready with its wish-list, hoping for a favourable treatment from the new government.

In the coming Budget the sector expects improved business environment giving a strong push to growth, said Mohit Goel, CEO, Omaxe Ltd.

Government has been moving steadily on Smart Cities, hence the Government must further liberalize and allow FDI in other segments, after allowing the same in construction and affordable housing, he said.

He further said that the Government must re-introduce tax benefit under section 80 IB (10) of the Income Tax Act in order to overcome the supply gap and fulfill the vision of Housing for all by 2022. This benefit should also be extended to Smart Cities, affordable housing and re-development.

"The real estate sector is expecting its long pending demand of grant of infrastructure status which will immensely help the sector to access easy finance," he added.

Goel also said that inclusion of real estate in GST will bring a lot of transparency in the sector.