India's real estate sector is looking forward to major policy reforms and budget allocation in 2024 to address underlying issues such as high interest rates and lower affordability.
Real EstateBudget 2024Policy ReformsAffordable HousingInterest RatesReal EstateJul 20, 2024
The Indian real estate sector is currently experiencing a growth spurt, with historically high sales in 2023. However, it still faces several challenges such as high interest rates and lower affordability.
The sector is expecting major policy reforms, including a reduction in interest rates, increase in tax deduction limit on home loans, and initiatives to promote affordable housing.
High interest rates have been a major deterrent for people looking to buy homes, leading to a decline in demand and affecting the growth of the sector.
NAREDCO is a leading industry body that represents the real estate sector in India, working closely with the government to promote the growth of the sector and address the challenges it faces.
Affordable housing is a critical segment of the Indian real estate sector, with a huge demand for affordable homes. Initiatives to promote affordable housing could provide a major boost to the sector.
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