CREDAI Maharashtra's Hope for Union Budget 2025: Boosting the Real Estate Sector
The Real Estate sector in India plays a crucial role in the nation's economic landscape, contributing significantly to GDP and generating substantial employment. CREDAI Maharashtra, a prominent organization representing real estate developers, has high ex
Real EstateUnion BudgetCredai MaharashtraInfrastructureAffordable HousingReal Estate MaharashtraJan 28, 2025
As the country gears up for the Union Budget 2025, CREDAI Maharashtra, a leading association of real estate developers in the state, has outlined several key expectations from the government.
These expectations are aimed at revitalizing the sector, attracting investments, and ensuring sustainable growth.
CREDAI Maharashtra, established in 1990, is a non-profit organization dedicated to promoting the interests of real estate developers in the state.
With over 1,200 member companies, the association plays a vital role in shaping the real estate landscape in Maharashtra.
CREDAI Maharashtra focuses on advocacy, capacity building, and fostering an environment that supports ethical and transparent practices in the industry.
One of the primary expectations from the Union Budget 2025 is the need for increased allocation of funds for infrastructure development.
CREDAI Maharashtra believes that robust infrastructure is essential for the growth of the real estate sector.
Improved roads, public transport, and utilities can attract more investments and enhance the quality of life for residents.
The association is hopeful that the government will prioritize the development of smart cities, which can serve as hubs for economic activities and innovation.
Another key expectation is the reduction of taxes and duties on construction materials.
High costs of materials like steel, cement, and bricks are a major deterrent to affordable housing projects.
CREDAI Maharashtra suggests that reducing these costs can make housing more affordable for the middle and lower-income groups.
The association also calls for a relaxation in the Goods and Services Tax (GST) rates for real estate transactions, which can boost demand and stimulate the market.
The Union Budget 2025 should also focus on easing the regulatory framework for real estate developers.
Excessive regulations and delays in approvals can lead to project delays and increased costs.
CREDAI Maharashtra recommends streamlining the approval processes and establishing a single-window clearance system.
This can help in speeding up project timelines and reducing the financial burden on developers.
Promoting the rental housing market is another area of focus for CREDAI Maharashtra.
The association believes that a robust rental housing market can address the housing needs of the urban workforce and provide a stable source of income for investors.
The government could consider offering tax incentives for investors in rental housing projects and creating a legal framework that protects the rights of both landlords and tenants.
Sustainable and green building practices are gaining importance in the real estate sector.
CREDAI Maharashtra expects the Union Budget 2025 to provide incentives for developers who adopt eco-friendly building materials and practices.
This can help in reducing the carbon footprint of buildings and promoting a more sustainable future.
The government could also consider setting up a certification system for green buildings, which can attract environmentally conscious buyers and investors.
In conclusion, CREDAI Maharashtra is optimistic about the Union Budget 2025 and hopes that the government will take proactive steps to address the challenges faced by the real estate sector.
By focusing on infrastructure development, reducing costs, easing regulations, promoting rental housing, and encouraging sustainable practices, the government can create a conducive environment for the growth and prosperity of the real estate sector in Maharashtra.
Frequently Asked Questions
What is CREDAI Maharashtra?
CREDAI Maharashtra is a non-profit organization established in 1990, representing real estate developers in the state of Maharashtra. It has over 1,200 member companies and focuses on advocacy, capacity building, and fostering ethical and transparent practices in the real estate industry.
What are the key expectations of CREDAI Maharashtra from the Union Budget 2025?
The key expectations include increased allocation for infrastructure development, reduction in taxes and duties on construction materials, easing of regulatory frameworks, promotion of the rental housing market, and incentives for sustainable and green building practices.
Why is infrastructure development important for the real estate sector?
Robust infrastructure, including improved roads, public transport, and utilities, is essential for the growth of the real estate sector. It can attract more investments and enhance the quality of life for residents.
How can reducing taxes and duties on construction materials help the real estate sector?
Reducing the costs of materials like steel, cement, and bricks can make housing more affordable for the middle and lower-income groups, thereby boosting demand and stimulating the market.
What are the benefits of promoting a robust rental housing market?
A robust rental housing market can address the housing needs of the urban workforce and provide a stable source of income for investors. It also helps in reducing the pressure on the housing market and ensures better utilization of existing properties.
Related News Articles
Budget 2024: Government's Focus on Housing Sector to Stimulate Real Estate Market
The Union Budget 2024 has provided a significant boost to the real estate sector, with a focus on urban development and affordable housing.
Revitalising India's Urban Landscape: The Rise of Redevelopment
India's real estate sector is witnessing a new trend as redevelopment gains momentum in major cities like Mumbai, Delhi-NCR, Surat, and Bengaluru.
Rajiv Bajaj's Rishabh Family Trust Acquires Prime Land in Pune for Rs 72 Crore
In a significant real estate deal, Rishabh Family Trust, one of the prominent family trusts managed by Rajivnayan Bajaj, has purchased a land parcel in Pune's upscale Koregaon Park for a whopping Rs 72 crore.
Trump Organisation Joins Forces with Dar Global for Luxurious Real Estate Ventures in Riyadh
The Trump Organisation, a renowned real estate firm, has partnered with Dar Global to launch new luxury projects in Riyadh. This collaboration builds on their previous successful ventures, including a golf resort in Oman and projects in Dubai and Jeddah.
From Setback to Success: Kiran Joshua and the Rise of Bhandhan Properties
In Bengaluru, the real estate industry is often marred by fraudulent practices, but Kiran Joshua's journey with Bhandhan Properties stands out as a beacon of trust and growth.
New Tax Regime: An Advantage for Gen X - Money News
The new tax regime introduced by the government aims to benefit Gen X by only taxing incomes above ₹12 lakh. This has significant implications for real estate investments like Airbnb rentals.