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The real estate sector of Indian has a crucial part in Indian economic growth, it generates the employment and develop the infrastructure of international level. With this awaited budget for 2024-2025, there is the high chance, that government of India can address the challenges faced by the Indian real estate sector, and can provide some relaxation for the sustainable growth. In this blog we will take a look , what can change in the upcoming budget, focusing on policy reforms, tax incentives, and infrastructure development.

Uplifting Affordable Housing Segment in Real Estate Sector

This budget can offer incentives to the affordable homebuyers, by giving the tax relaxations and can introduce subsidies for promoting the affordable housing. This will allow the individual to have their own houses.
The government needs to take a look at the affordable housing segment.

Reviving Tax Incentives and Increasing Interest Rate Rebate

With increase in the property prices there has been a major increase in borrowing amounts. Moreover, the rise in interest rates has lead to pay higher monthly installments for homebuyers.
experts believe it’s crucial to increase the home loan interest rate rebate from ₹2 lakh to at least ₹ 5 lakh.
Such steps not only offer the significant relief to the homebuyers but also contribute to an overall economic growth

Introducing Incentives in Rental Housing

For a low income segment the government can also led to introduce some incentives in rental housing in addition to support homebuyers in real estate sector. The Houses in smaller ticket size that has been acquired as an investment but remains unoccupied because the owner do not find it useful to rent out due to low prevailing yields.

“The budget can have a 100% exemption for rental income up to Rs 3 lakh for houses costing up to Rs 50 lakh. This would incentivize investors to rent out properties. and this will reduce the shortage of houses