outlookmoney.com-Budget 2025: Will FM Bring GST Rationalisation, Revise Affordable Housing Price For Residential Property?
As Finance Minister Nirmala Sitharaman prepares to present the Union Budget 2025-26 on February 1, 2025, the realty sector is eagerly waiting for announcements to get a boost for residential properties. While Speaking with Outlook Money experts said that they are expecting ease of GST rationalisation, the revival of the 100 per cent tax exemption under Section 80-IBA for affordable housing projects, and streamlining of the input tax credit mechanism.
The luxury residential property market witness exponential growth in 2024 especially in Tier I cities like Mumbai, Hyderabad, Bengaluru and Delhi, as per Knight Frank India data.
However, Niranjan Hiranandani, MD of Hiranandani Group & Chairman at NAREDCO, argued that the affordable housing segment is currently experiencing negative growth. We urge an escalated flow of funds to reinvigorate this crucial sector, thereby promoting inclusivity and sustainable urban development.
