By SURESH MUTHA
I expect the interim budget to revisit GST rates and tax deductions. Increased tax incentive and innovative land allocation methods will help the industry.
Though the real estate sector witnessed a robust growth in 2023, there is scope to grow further as more and more individuals want to own a comfortable home. Specific policies to streamline overall funding mechanisms should be announced.
The share of affordable homes in total housing sales has come down to 30% last year from 37%. Rising property prices and increased home loan rates are major reasons for this.
Policies to revive the affordable housing sectors should be formulated which would aid the government realise its ‘housing for all’ vision.
Industry status to the residential sector has been a long pending demand which, if fulfilled, will throw up more financial advantages.” (The author is Managing Director at M20 Urban Spaces)
