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Below the Quote on Real Estate Industry`s Expectation from Upcoming Budget by Shubhi Jain, Principal Partner & Head of CRM, Square Yards

The real estate sector is a cornerstone of our economy, serving as one of the largest employers. We eagerly anticipate significant reforms in the upcoming budget under the new government. Securing industry status will unlock a plethora of legal and administrative benefits, along with much-needed tax incentives. Also, while government’s focus on affordable housing under PMAY is commendable, recalibrating strategies in light of escalating construction costs is imperative for sustained inclusiveness and effectiveness. Moreover, enhanced tax reliefs and increased deductions on home loans, currently capped at INR 2 lakhs, are pivotal in stimulating demand and supporting prospective buyers. With these measures in place, the real estate sector is poised to contribute meaningfully to India's journey towards a 5 trillion-dollar economy.

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