New Delhi, January 15, 2022: The real estate sector is upbeat about the Budget 2022 and expects that a good handholding from the government can put the industry on a strong footing in the coming months. Property stakeholders want the standard Rs 2 lakh tax deduction on interest paid on home loans to be increased to Rs 5 lakhs as it will bring more salaried people in the bracket and help them realize their dream of buying a home. This decision will also keep the housing demand healthy and help property developers recover from the losses and increase their wafer-thin profit margins. With prices of raw materials hitting the roof, property developers want a GST waiver or reduction on construction materials. The long-standing demand of awarding industry status to the real estate sector is also expected from this budget. Lastly, there should be a stay on stamp duty deductions in tier 1 and tier 2 cities as it will push more homebuyers towards home ownership and help developers offload pending inventory.c
Corporate Comm India (CCI Newswire)
