With Budget 2024 on the horizon, the real estate sector is excited about the possibility of impactful reforms to stimulate economic growth. The industry is looking for enhanced tax incentives for homebuyers and investors, such as increased home loan interest deductions and reduced GST on under-construction properties, which could boost housing demand. Streamlining project approvals is also crucial to maintaining momentum. We’re hopeful for policies that promote sustainable development and address industry challenges, leading to more job opportunities in related fields. Overall, we anticipate budget measures that will drive growth and resolve key issues facing the real estate market.

Additionally, the real estate sector is looking forward to more significant investments in infrastructure, which can enhance connectivity and make emerging areas more accessible and attractive to potential buyers. The inclusion of smart city projects and the development of better urban planning strategies are expected to revolutionize the living standards and push the demand for residential and commercial properties.

Moreover, there is a growing emphasis on affordable housing. Incentives and subsidies for affordable housing projects can make homeownership a reality for more people, addressing the housing shortage and contributing to economic stability.

Finally, introducing green building standards and promoting sustainable construction practices are pivotal for the future. By encouraging eco-friendly building materials and energy-efficient designs, the government can help the real estate sector align with global sustainability goals, attract environmentally-conscious investors, and ensure long-term benefits for the environment and society.

Overall, the real estate sector awaits Budget 2024 with high hopes for comprehensive reforms that will not only enhance market dynamics but also improve the quality of living for millions of people.