Mumbai, January 15, 2024: We anticipate three pivotal measures that can catalyze our industry’s growth and contribute significantly to propelling India toward a 5 trillion-dollar economy:
Lower Interest Rates: Over the past two years, customer EMIs have witnessed a substantial surge of 30-40 percent. A strategic reduction in interest rates can not only alleviate this burden on consumers but also substantially enhance buying power, thereby fueling growth in the real estate sector.
Increased Home Loan Deduction Slab: To position real estate as a preferred investment, it is imperative to elevate the home loan deduction slab across diverse sections of society. This move not only encourages homebuyers but also stimulates economic activity within the real estate market.
Amplified Focus on Real Estate: Recognizing the domino effect, it’s high time real estate garners increased attention. As the second-largest sector in generating employment opportunities and with hundreds of ancillary industries relying on its vitality, fostering growth in real estate will inherently contribute to the overall economic landscape.
By implementing these strategic measures, we envision a thriving real estate sector playing a pivotal role in steering India towards its ambitious economic milestone.
Corporate Comm India (CCI Newswire)
