Real Estate Sector Seeks Boost from Union Budget 2024-25
The real estate sector is expecting growth and stability from the upcoming Union Budget 2024-25, with industry experts outlining key areas for policy focus.
Real EstateUnion Budget 2024 25GstAffordable HousingFdiHomebuyersNri InvestmentsReal Estate MaharashtraJul 02, 2024
Industry experts emphasize the need for enhancing tax benefits for homebuyers, simplifying the GST structure, and providing incentives for affordable housing projects. They also call for measures to improve financing access for developers, especially SMEs, and to address liquidity challenges.
Additionally, industry experts suggest that the government should introduce targeted schemes to cater specifically to millennials and first-time homebuyers, making homeownership more accessible to this demographic. They also emphasize the importance of attracting more NRI investments and providing incentives for senior-friendly housing projects.
The real estate sector is a cornerstone of the Indian economy, driving growth and employment. With the government's commitment to 'Housing for All', the sector is expecting substantial stimulus to the housing market, including tax benefits for homebuyers and reduction in GST rates for under-construction properties.
Foreign Direct Investment (FDI) plays a crucial role in the development of infrastructure and real estate. Simplifying the FDI process and making it more attractive for foreign investors can enhance transparency and ease regulatory compliances, bringing in much-needed capital and supporting large-scale developments.
The real estate sector eagerly awaits the Union Budget 2024-25, hoping for comprehensive measures that will address its key challenges and foster growth. With targeted policies and incentives, the government can ensure that the sector continues to thrive, contributing significantly to the nation's economic development and housing needs.
Frequently Asked Questions
What are the key areas that the real estate sector is expecting the government to focus on in the Union Budget 2024-25?
The real estate sector is expecting the government to focus on enhancing tax benefits for homebuyers, simplifying the GST structure, and providing incentives for affordable housing projects.
Why is the real estate sector important for the Indian economy?
The real estate sector is a cornerstone of the Indian economy, driving growth and employment.
What are the benefits of attracting more NRI investments in the real estate sector?
Attracting more NRI investments can drive growth in the sector, bring in much-needed capital, and support large-scale developments.
What is the government's commitment to in the real estate sector?
The government is committed to 'Housing for All', and the real estate sector is expecting substantial stimulus to the housing market.
What is the significance of FDI in the real estate sector?
FDI plays a crucial role in the development of infrastructure and real estate, and simplifying the FDI process can enhance transparency and ease regulatory compliances.
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