Budget Wishlist: Redefine Affordable Housing, Give More Tax Sops, Say Real Estate Experts
NDTV
Every year before the Budget, Finance Minister's kitty gets filled with suggestions and wishes from all the sectors. This year, the real estate sector -- which staged a recovery from 2020's downturn -- expected a range of measures from the upcoming Union Budget 2022-23.
New Delhi: Every year before the Budget, Finance Minister's kitty gets filled with suggestions and wishes from all the sectors. This year, the real estate sector -- which staged a recovery from 2020's downturn -- expected a range of measures from the upcoming Union Budget 2022-23.
"The real estate market has seen a rebound and displayed a lot of resilience post-pandemic. Now, to sustain the momentum, the real estate sector is looking forward to the much-needed reforms and incentives in the upcoming budget, especially as the sector is the primary contributor to economic growth," Ramani Sastri - Chairman and MD, Sterling Developers Pvt Ltd, said.
"There is a need to redefine 'affordable housing' to Rs 50-60 Lakh as this would expand the benefits for homebuyers and therefore boost the end-user demand," Mr Sastri added.
At present, the price of affordable housing is Rs 45 lakh or below in non-metros for a carpet area of 90 sq meters or below. For metros, the price is Rs 45 lakh or below for a carpet area of 60 sq meters or below.
