Maharashtra Real Estate Expectations from Union Budget 2024-25
Industry leaders share their expectations from the Union Budget 2024-25, hoping for tax relief, streamlined approvals, and increased support for affordable housing.
Union Budget 2024 25Real EstateMaharashtraTax ReliefAffordable HousingGst RatesInfrastructure DevelopmentReal Estate MaharashtraJul 16, 2024
Several prominent industry leaders have shared their views on what they expect from the upcoming budget. Mr. Prashant Sharma, President of NAREDCO Maharashtra, emphasized the need for enhanced tax incentives for homebuyers, a single window clearance system, and incentives for affordable housing. Mr. Pritam Chivukula, Co-Founder & Director of Tridhaatu Realty, highlighted the importance of increasing tax deductions on home loan interest and a single-window clearance system. Mr. Vedanshu Kedia, Director of Prescon Group, called for a rethink of the GST structure and rationalization of GST rates to make real estate more affordable.
Other industry leaders, including Mr. Samyak Jain, Director of Siddha Group, Ms. Shraddha Kedia-Agarwal, Director of Transcon Developers, Mr. Rohan Khatau, Director of CCI Projects, and Mr. Himanshu Jain, VP - Sales, Marketing & CRM of Satellite Developers Private Limited (SDPL), also shared their expectations from the budget. These include tax benefits for homebuyers, reduced GST rates, simplified FDI processes, and increased budget allocations for infrastructure development.
summary, the real estate sector in Maharashtra looks forward to a budget that addresses these critical areas, fostering growth, stability, and affordability. By implementing these measures, the budget can empower homebuyers, boost investment, and create a more stable and sustainable real estate market. This, in turn, will contribute to the country's overall economic growth and development.
Frequently Asked Questions
What are the expectations of the real estate sector from the Union Budget 2024-25?
The real estate sector expects measures that will drive growth, stability, and make housing more affordable, including tax relief, streamlined processes, increased support for affordable housing, and measures to address liquidity challenges.
What are the key areas that the industry leaders want the government to focus on in the budget?
The key areas include tax relief, streamlined processes, increased support for affordable housing, and measures to address liquidity challenges, as well as infrastructure development, FDI, and REITs.
How will the budget impact the real estate market in Maharashtra?
A budget that addresses the critical areas mentioned above can empower homebuyers, boost investment, and create a more stable and sustainable real estate market, contributing to the country's overall economic growth and development.
What role does affordable housing play in the budget expectations of the real estate sector?
Affordable housing is a critical area of focus, with industry leaders expecting increased support, including extended tax benefits and incentives for affordable housing initiatives.
How can the government promote sustainable development in the real estate sector?
The government can promote sustainable development by incentivizing sustainable development practices, providing tax benefits for green buildings, and encouraging the use of eco-friendly materials and technologies.
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