Budget 2024-25: Here is what experts expect for the real estate sector
Experts foresee a progressive outlook for the real estate sector in the Interim Budget for 2024–25. They anticipate key reforms to stimulate demand and boost investment in the sector, including providing infrastructure status to affordable housing, lower GST rates, and simplified taxation structure for REITs. Experts suggest debt restructuring options for stressed developers, improved credit availability, and digitisation initiatives to enhance transparency. Overall, the real estate sector is hopeful of a comprehensive policy framework in the 2024–25 Budget to augment growth and resilience in the post-pandemic era. In this Budget, the government should take a closer look at the affordable housing segment. A sunrise segment of the realty market, the category suffered a decline in sales during the pandemic. It comprises just 20% of the total housing sales, a marked difference from pre-pandemic days when it accounted for 40% of sales. Through carefully curated policy impetus, tax breaks, ...