Pre-Budget Expectation : With inflation being elevated over the last couple of months, the construction cost has increased Says Mr. Ravi Subramanian, Shriram Housing
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Below is Pre budget views By Mr. Ravi Subramanian, MD & CEO of Shriram Housing
Housing for All has been amongst the most significant initiatives driven by the GoI. We expect the govt. would continue to build upon schemes such as PMAY to emphasise the importance of the same. The rural low-income housing segment with ticket sizes of INR 8-15 lakh and borrower income of under INR 3 lakh annually is the segment where the need for adequate housing is acute. To address the demand-supply mismatch in rural housing, we expect some special incentives for customers/builders in this segment. With limited projects catering to consumers here, any benefit from the government’s side would aid in easing concerns on both supply and affordability.
Further, there is also an expectation of a revision in the limits of Section 80C and Section 24 for principal and interest rebates on home loans. With inflation being elevated over the last couple of months, the construction cost has increased, and any rationalization of these limits will help the end consumer.
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