Categories: Budget

Pre-Budget Expectations for the Real Estate Sector by Mr. Samyak Jain, Director, Siddha Group

New Delhi, January 25, 2023: We hope the upcoming budget 2023 will be the catalyst of good tidings for the Real Estate Sector in the coming year. While the Industry is out of pandemic induced hit, it needs boosters to be able to continue the growth.

We look forward to more first time home buyers having access to affordable housing by availing credit link subsidy scheme benefits, if the government revises the cap further upwards in the metro cities. The Government should introduce tax sops for first-time homebuyers.

We appreciate the government’s genuine efforts in promoting affordable housing. The cap of Rs. 2 lakh per annum against interest rate deduction under section 24(b) of the Act needs to be increased manifolds. This along with removing the 45 lakh cap from affordable housing will boost the affordable housing segment in a big way.

We hope the government increases the budget outlay for development of infrastructure projects in Mumbai. This will improve connectivity and ease of travel for Mumbaikars. Improved infrastructure has a cascading effect on the real estate sector with an expected surge in demand for housing across the city.

People from smaller cities as well as rural areas are moving into metro cities in large numbers and therefore demand for housing is all set to rise. Timely government intervention is needed to tap this enormous upward trajectory envisioned in the real estate sector.

Corporate Comm India (CCI Newswire)

The Property Times News Bureau

Recent Posts

NAREDCO Maharashtra NextGen Ties Up with Brigade REAP to Strengthen PROPEL, Empowering Emerging Entrepreneurs in Real Estate

Brigade REAP Incubates 76 Proptech Startups, Leading India's Largest Proptech Ecosystem with ₹200 Cr Earth…

2 days ago

Dr. Gautam Kanodia: Redefining Luxury Real Estate with KREEVA

New Delhi, November 22, 2024: Dr. Gautam Kanodia has emerged as a visionary leader, redefining…

2 days ago

The Rise of Premium Luxury Residences: How NCR is Setting New Standards

New Delhi, November 21, 2024: Over the years, Delhi-NCR has emerged as a hotspot for…

3 days ago

3A Composites’ Flagship BrandALUCOBOND Launches a Premium Product ‘ALUCODUAL®’

~ The Company strengthens the product portfolio with the launch of innovative & ‘Made in…

3 days ago

Government Policies and Housing Premiums Under Spotlight in latest Mumbai Realty Report

- NAREDCO Maharashtra and 1 Finance Unveils Comprehensive Study on Mumbai's Real Estate Landscape -…

4 days ago

Onward Workspaces Expands with leasing 18,000 Sq. Ft. Premium Facility at Emaar Capital in Gurgaon, Catering to Global Enterprise

The announcement marks a major step in offering Flexible Grade-A Office Solutions for Modern Businesses…

4 days ago