As the Union Budget approaches, real estate developers and experts are calling for the sector to be granted industry status, along with a simplified single-window clearance system and a revision of GST input tax credit rules. Builders have also called for an increase in the tax rebate on housing loan interest to at least Rs.5 lakh. Developer organizations like NAREDCO are additionally requesting that the second tranche of the Special Window for Affordable and Mid-Income Housing (SWAMIH) fund be launched in the upcoming Union Budget for FY 2024-2025, with a corpus of Rs.50,000 crore.

रियल एस्टेट कंपनियों के संगठन नारेडको ने सरकार से बजट में होम लोन पर चुकाए जाने वाले ब्याज पर कर छूट को दो लाख रुपये से बढ़ाकर पांच लाख रुपये करने की मांग की है। संगठन का मानना है कि आवास और ब्याज दरों में वृद्धि के चलते ऐसा करने से घरों की मांग को बढ़ावा मिलेगा। बिल्डरों ने किफायती घरों की मांग और आपूर्ति को बढ़ावा देने के लिए कुछ कर प्रोत्साहन की भी मांग की। नारेडको ने कहा है कि आयकर अधिनियम की धारा 24 के तहत स्व कब्जे वाली संपत्ति (वह घर जिसमें आयकरदाता रहता है) पर चुकाए जाने वाले ब्याज पर कर छूट दो लाख रुपये तक सीमित है।

Realtors' body NAREDCO on Tuesday suggested that the tax exemption on interest on self-occupied property loans should be increased to Rs 5 lakh in the upcoming budget from Rs 2 lakh currently to boost housing demand amid a rise in housing prices and mortgage rates. Builders also sought some tax incentives to boost demand and supply of affordable homes.

The National Real Estate Development Council (NAREDCO) has put forth several recommendations for the real estate sector ahead of the Union Budget for FY 2024-2025. These recommendations aim to address existing challenges and stimulate growth in the real estate sector, ultimately contributing to the government’s goal of ‘Housing for All’. Currently, the annual value of property held as stock-in-trade and not let out is considered ‘Nil’ for up to two years from the end of the financial year in which the construction completion certificate is obtained.

Realtors' body NAREDCO on Tuesday suggested that the tax exemption on interest on self-occupied property loans should be increased to ₹5 lakh in the upcoming budget from ₹2 lakh currently to boost housing demand amid a rise in housing prices and mortgage rates. Builders also sought some tax incentives to boost demand and supply of affordable homes.

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Realtors' body Naredco on Tuesday suggested that the tax exemption on interest on self-occupied property loans should be increased to Rs 5 lakh in the upcoming budget from Rs 2 lakh currently to boost housing demand amid a rise in housing prices and mortgage rates. Builders also sought some tax incentives to boost demand and supply of affordable homes.

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With the Union budget approaching, real estate developers and expert demand industry status for the sector along with simplified single-window clearance system, revision in the GST input tax credit rules. The builders have also demanded that tax rebate on housing loan interest should be enhanced to a minimum of Rs 5 lakh.

Developer bodies like NAREDCO have also demanded that the second tranche of the Special Window for Affordable and Mid-Income Housing (SWAMIH) fund should also be launched with Rs 50,000 corpus in the upcoming union budget for FY 2024-2025.

The real estate sector, which has seen new highs in terms of sales as well as launches in the last one year, expects the Centre to grant it the status of an industry and offer some tax breaks to support low-priced homes, several top executives told Business Standard. Pavitra Shankar, managing director at Brigade Enterprises said that the industry status has been the sector's "one of the long-standing demands"

Keystone Realtors Limited, also known as Rustomjee Group, on July 11 announced its foray into the plotted development segment. It said that the company has acquired a 88-acre land parcel for ₹91 crore in Kasara near the famous hill station Igatpuri, which is about a three hour drive from Mumbai.

Finding a home on rent in any Indian city is no less than going through a maze where every decision takes us in a different direction. From identifying the right property and right landlord to mutually agreeable rent and security deposit, the task is indeed uphill. Not to mention the brokers, that are most of the time devoid of any detailed information about the property or its owners and their only obligation remains to themselves, to earn the brokerage – from landlord and tenant.