Mauritius Budget 2023/2024: It’s time to move in Mauritius!
The real estate sector, in tandem with the construction sector, offers diversified asset classes and is well positioned on the global property market. In 2022, private sector investments in the construction and real estate sectors stood at MUR 38 billion. In contrast, FDI in the real estate sector witnessed impressive growth with over 600 sales under-regulated schemes amounting to MUR 15.4 billion.
BUDGET MEASURES
The Home Ownership Scheme will be extended to 30 June 2024.
Home Loan Payment Scheme for a person contracting a secured housing loan will be extended to 30 June 2024.
Registration duty will be levied on the transfer of shares for a value exceeding Rs 200,000 and will be taxed on the value of shares transferred when a person is acquiring more than 20% of the share capital in a company.
The radius under the Transit Oriented Scheme will be increased from 500m to 1 km of metro stations.
Annual Rental payment facility will be provided on a case-to-case basis to lessees of State land facing financial difficulties.
The Premium Investor Scheme will be extended to cover investors taking over or acquiring the whole or part of a government undertaking, including acquiring shares in a government-owned company.
The time limit for the acquisition of one plot of serviced land by resident non-citizens in a smart city or a PDS project is extended up to 30 June 2026
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Source: EBD
