With the Union Budget set to be presented on February 1, 2025, the real estate industry has articulated a comprehensive wish list aimed at fostering growth and sustainability in the sector. Leading voices from the industry have put forward their expectations, urging the government to adopt measures that would stimulate investment, promote housing affordability, and drive urban development.

As India's Union Budget 2025 approaches, real estate industry leaders are voicing their expectations, calling for measures to stimulate the sector, particularly affordable housing, and improve market conditions. Key demands include tax reliefs, enhanced funding, and the long-awaited recognition of real estate as an industry.

In a landmark developers’ meet, the NAREDCO Delhi Chapter brought together key stakeholders to discuss transformative solutions for Delhi’s real estate challenges. With Chief Guest Anand Kumar, chairman of Delhi RERA, NAREDCO national president Hari Babu, and Delhi Chapter president Harsh Vardhan Bansal leading the dialogue, the event set a visionary roadmap for addressing the capital’s critical urban and real estate issues.

As the Union Budget 2025-26 approaches, India’s real estate sector voices its expectations for critical reforms to address persistent challenges, spur growth, and make housing more accessible and sustainable. With the potential to significantly boost the nation’s GDP and socio-economic development, stakeholders emphasize the importance of progressive policy measures.

Dr. Niranjan Hiranandani, Chairman, NAREDCO:

Every year, as the Union Budget approaches, real estate industry leaders rally behind the same battle cry: "Give us the tax breaks so we can build more affordable houses for India."

Niranjan Hiranandani, following his pre-budget consultation with Finance Minister Nirmala Sitharaman, expressed concern over a troubling milestone in his 40-year career: a degrowth in affordable housing.

Delhi real estate regulatory authority (Delhi RERA) in coming weeks will issue new set of guidelines for builders and other stakeholders, informed Anand Kumar, chairman of the authority.

Kumar was speaking at NAREDCO's Delhi chapter conference held on Thursday. During the conference, Harsh Vardhan Bansal, president, NAREDCO Delhi discussed appointment of various sub committees for Delhi chapter and took feedback and suggestions for the LG task force.

With the dawn of 2025, India's real estate market stands on the brink of a transformative era, poised for unprecedented growth across residential, commercial, and industrial sectors. This pivotal juncture is characterised by exponential growth and evolving market dynamics, with each sector undergoing significant transformations. These shifts are being shaped by demographic changes, progressive policy initiatives, and economic trends.

With the Union Budget 2025-26 just weeks away, the real estate sector is calling for bold reforms to reignite growth and address pressing challenges. After a subdued second half of 2024, owing to general and state elections and lackluster GDP performance, industry leaders are urging the government to introduce measures that could revive demand, bolster affordable housing, and improve urban infrastructure.

A delegation from NAREDCO Maharashtra, Pune, and Vidarbha recently met Maharashtra Revenue Minister Chandrashekhar Bawankule with key proposals to promote the real estate sector. 

The 10-member team highlighted the need to stabilize land rates in the ready reckoner for the financial year 2025-26. They also urged the government to incentivize homebuyers purchasing property in certified green buildings. 

Finance Minister Nirmala Sitharaman will present the Union Budget on February 1. As per reports, Modi government is considering cutting income tax for individuals earning up to Rs 15 lakhs per annum in February's budget to provide relief to the middle class and boost consumption as the economy slows.

Speaking on behalf of the real estate industry, Mr. Prashant Sharma, President of NAREDCO Maharashtra underlined his sector's expectation from the Union Budget 2025.