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Business Economy


Real estate sector hopes for reforms to boost growth and affordability in Union Budget 2025-26

Real estate sector hopes for reforms to boost growth and affordability in Union Budget 2025-26

Kolkata, Jan 10 (UNI) With the Union Budget 2025-26 around the corner, India’s real estate sector is brimming with expectations for reforms that can unlock growth, improve homebuyers' affordability, and ensure developers' financial stability.

Contributing nearly 8 percent to the nation’s GDP, real estate remains

a key driver of employment generation and infrastructure development,

making it an essential component of India’s long-term economic

strategy.

In 2024, the sector demonstrated robust growth, with residential

housing sales reaching record levels despite inflationary pressures

and rising interest rates. However, developers and experts believe

sustaining this momentum requires policy interventions focused on tax

relief, access to funding, and streamlined approval processes to

address ongoing challenges.

"As we look ahead to the Union Budget 2025-26, we are optimistic about

its potential to usher in transformative changes for the Indian real

estate sector. Strategic fiscal measures aimed at stimulating demand,

easing liquidity constraints, and simplifying regulations are critical

to revitalizing the market and ensuring sustainable growth. Addressing

the sector’s evolving needs will not only restore buyer confidence but

also position Indian real estate on a global scale," Elan Group

executive director Sandeep Agarwal said on Friday.

" We also encourage the government to prioritize policies that foster

technological advancements, driving a digital revolution in the real

estate industry. By embracing innovations like blockchain for seamless

and transparent transactions, AI-driven market analytics, and

sustainable building technologies, we can unlock the next wave of

growth. With the right support in this Union Budget, we have an

incredible opportunity to position Indian real estate as a global

leader while ensuring long-term resilience and sustainability." he

elaborated.

One of the key demands from the sector is an increase in the tax

deduction limit on home loan interest under Section 24(b) of the

Income Tax Act from Rs 2 lakhs to Rs 5 lakhs, which developers believe

will boost demand, especially in metro cities where property prices

remain high. Industry leaders are also advocating for the revival of

the Credit Linked Subsidy Scheme (CLSS) to support first-time

homebuyers and ease liquidity constraints in the market.

UNI PC KK

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