Union Budget 2024-25: Real Estate Sector Expectations
The real estate sector is brimming with expectations for policies that will propel growth and stability in the upcoming Union Budget 2024-25.
Real EstateUnion BudgetAffordable HousingGst RatesTax BenefitsReal Estate NewsJul 02, 2024
Enhancing tax benefits for homebuyers, simplifying GST rates, and providing incentives for affordable housing projects are some of the expectations from the sector. The government's commitment to 'Housing for All' is commendable, and further emphasis on affordable housing initiatives is anticipated. Strengthening policies and providing additional incentives to developers engaged in affordable housing projects will ensure that more citizens can achieve their dream of homeownership.
Metro cities, particularly Mumbai, face unique challenges due to high land and construction costs. Special schemes and subsidies tailored for affordable housing in metropolitan regions can significantly bridge the gap between demand and supply. Enabling a higher flow of funds through banking and non-banking financial institutions, along with targeted measures to support the liquidity of developers, will sustain project momentum.
Frequently Asked Questions
What are the key expectations from the real estate sector in the Union Budget 2024-25?
Enhancing tax benefits for homebuyers, simplifying GST rates, and providing incentives for affordable housing projects are some of the expectations from the sector.
What is the government's commitment to affordable housing?
The government's commitment to 'Housing for All' is commendable, and further emphasis on affordable housing initiatives is anticipated.
What are the challenges faced by metro cities like Mumbai in affordable housing?
Metro cities, particularly Mumbai, face unique challenges due to high land and construction costs.
How can the government support developers engaged in affordable housing projects?
Strengthening policies and providing additional incentives to developers engaged in affordable housing projects will ensure that more citizens can achieve their dream of homeownership.
What is the importance of liquidity in the real estate sector?
Enabling a higher flow of funds through banking and non-banking financial institutions, along with targeted measures to support the liquidity of developers, will sustain project momentum.
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