Budget 2024-25 brings high expectations for real estate sector

The upcoming budget for 2024-25 has generated a lot of anticipation within the real estate sector. There are high hopes and expectations for the budget to bring about positive changes and policies that will benefit the industry.

Many stakeholders are looking for measures that will boost investment in real estate, facilitate easier access to financing, and address issues related to taxation and regulatory hurdles.

The sector is also hopeful for initiatives that will spur growth in affordable housing and urban development projects.

Overall, the budget is seen as a crucial opportunity to stimulate the real estate market and drive economic growth, and industry players are eagerly awaiting the announcement of policies and incentives that will shape the future of the sector.

Sanjiv Puri, president of the Confederation of Indian Industry (CII), emphasised that the Modi 3.0 administration should implement a three-rate structure for GST and proposed bringing real estate under its ambit.