Real Estate Sector Seeks Growth and Stability from Union Budget 2024-25

NAREDCO Maharashtra presents pre-budget expectations, including tax incentives for homebuyers, single window clearance, and incentives for affordable housing.

Real EstateUnion BudgetNaredcoAffordable HousingTax IncentivesSingle Window ClearanceInfrastructure DevelopmentReal Estate MaharashtraJun 28, 2024

Real Estate Sector Seeks Growth and Stability from Union Budget 2024-25

Real Estate Maharashtra:As the Union Budget 2024-25 approaches, the real estate sector is eager to see measures that drive growth and stability. Key stakeholders, including NAREDCO Maharashtra, Tridhaatu Realty, and CREDAI-MCHI, have voiced their opinions on what should be prioritized in the budget. The sector expects tax incentives for homebuyers, single window clearance for projects, and incentives for affordable housing.

Additionally, stakeholders want the government to address liquidity issues, simplify land acquisition, and promote rental housing. Digital transformation and infrastructure development are also crucial for the sector's growth. The real estate industry is a significant contributor to the nation's GDP and requires focused attention to ensure sustainable development and enhanced economic activity.

Frequently Asked Questions

What are the key expectations of NAREDCO Maharashtra from the Union Budget 2024-25?

NAREDCO Maharashtra expects tax incentives for homebuyers, single window clearance for projects, and incentives for affordable housing, among others.

Why is addressing liquidity issues crucial for the real estate sector?

Addressing liquidity issues is crucial for the real estate sector as it ensures easier access to financing for developers, especially small and medium-sized enterprises, and sustains project momentum.

What is the significance of promoting rental housing in the real estate sector?

Promoting rental housing is significant as it addresses the housing needs of a diverse population, including the urban population and the migrant workforce.

How can digital transformation benefit the real estate sector?

Digital transformation can benefit the real estate sector by leading to greater transparency and efficiency, and incentives for adopting PropTech solutions can modernize the sector.

Why is infrastructure development crucial for the real estate sector's growth?

Infrastructure development is crucial for the real estate sector's growth as it enhances the livability quotient, makes real estate investments more attractive, and drives economic activity.