The GST (Goods and Service Tax) framework in India today denies ITC (Input Tax Credit) for expenses incurred in construction inputs for businesses involved in commercial leasing of real estate (such as office parks, malls, and warehouse facilities). However, since leasing is a taxable supply, developers need to pay GST to the government on the rents charged. This double taxation escalates the cost of construction for developers, who then pass it down to their tenants. Between 2022 and 2025, rent