Union Budget 2024: Real estate sees marginal benefits
5 months, 2 weeks ago

Union Budget 2024: Real estate sees marginal benefits

The Hindu  

Covering a wide spectrum of Indian sectors, the first Union Budget of Modi 3.0 focused on MSMEs, employment, skilling, youth, and the middle class. Yet, the Budget as such has failed to address several concerns of the real estate sector, including direct incentives to boost the affordable housing sector. Mega allocation for the Hyderabad-Bengaluru industrial corridor and Vizag-Chennai corridor will boost growth along these corridors and consequently boost real estate growth there. The Finance Minister also tried to rejuvenate the MSME sector, which does have a multiplier effect on overall economic growth — with the implied positives for real estate being a collateral beneficiary of such growth. For individual taxpayers under the new tax regime, the increased standard deduction limit to ₹75,000 from the previous ₹50,000 along with the new income tax slabs implies savings, but hardly enough to boost housing demand.

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History of this topic

Government to soon launch new credit guarantee scheme for MSME sector up to ₹100 crore
2 days, 3 hours ago

Government to soon launch new credit guarantee scheme for MSME sector up to ₹100 crore

The Hindu  

Financial Services Secretary M Nagaraju on Thursday said the government would soon launch a new credit guarantee scheme for the MSME sector covering loans up to ₹100 crore. "We are likely to come up with a scheme, which was announced by Finance Minister in her last Budget, that could provide loans up to ₹100 crore without guarantee, if they are …

Industrial and commerce bodies term Union Budget as pragmatic fostering MSME growth
5 months, 2 weeks ago

Industrial and commerce bodies term Union Budget as pragmatic fostering MSME growth

The Hindu  

Industrial and commerce bodies in Dakshina Kannada welcomed the Union Budget, terming it a pragmatic one aimed at fostering micro, small and medium enterprises thereby creating more jobs. Terming the Budget growth-oriented, Kanara Industries Association president N. Arun Padiyar said proposals on employees provident fund scheme and providing ₹2 lakh crore support for job creation will generate more employment. District …

Union Budget gives a leg-up to MSMEs, manufacturing sector
5 months, 2 weeks ago

Union Budget gives a leg-up to MSMEs, manufacturing sector

The Hindu  

The Union Budget for 2024-2025 has a package of support measures for the Micro, Small and Medium-scale Enterprises and the labour-intensive manufacturing sector. We have formulated a package covering financing, regulatory changes, and technology support for MSMEs to help them grow and also compete globally,” said Finance Minister Nirmala Sitharaman. The budget proposes a credit guarantee scheme that will work …

Union Budget 2024: Real estate’s wishlist
6 months, 2 weeks ago

Union Budget 2024: Real estate’s wishlist

The Hindu  

The Indian real estate sector is a crucible of economic growth and employment. To generate more growth and address the housing needs of a growing population, particularly in the low and mid-income segments, the Budget must include tax breaks, regulatory reforms, and financial assistance measures. Affordable and mid-income housing is the foundation of the real estate industry, meeting the urgent …

Real Estate Budget 2024: 8 things the sector expects from the Finance Minister
11 months, 1 week ago

Real Estate Budget 2024: 8 things the sector expects from the Finance Minister

Hindustan Times  

Budget 2024 will be presented by Finance Minister Nirmala Sitharaman today. The real estate sector has sought an expansion of the definition of affordable housing, industry status for the real estate sector, tax sops for homebuyers as well as developers, increase in exemption on principal amount as well as the interest paid on home loans, and greater retail engagement in …

Interim Budget 2024: What can it do for real estate?
11 months, 3 weeks ago

Interim Budget 2024: What can it do for real estate?

The Hindu  

The Indian real estate sector, particularly housing, is at a critical juncture as we approach the Union Budget for 2024-2025. Considering the forward momentum seen in 2023, alongside global economic challenges and the stagnation in affordable housing, there are several key areas the sector should focus on in its demands from the upcoming budget. Real estate stakeholders therefore look to …

Union Budget 2023: Why real estate sector needs more incentives
1 year, 11 months ago

Union Budget 2023: Why real estate sector needs more incentives

India Today  

The rising construction costs and a hike in the repo rate in 2022 did not dampen consumer sentiments related to the real estate sector. However, the country's real estate sector has been facing a number of challenges in recent years, including a slowdown in demand, a lack of liquidity, and a lack of affordable housing. Boosting Green Building Technology The …

Union Budget 2023-24: Insights from a real estate sector perspective
1 year, 11 months ago

Union Budget 2023-24: Insights from a real estate sector perspective

Firstpost  

Are you consumed by thoughts of the upcoming Budget? To give you that perspective, here are some overarching themes from the recent past that are worth noting ahead of the upcoming Budget Four quadrants central to Budget Living up to its focus on Sabka Saath, Sabka Vikas, the Indian Government has continued to allocate significant resources to and focus on …

Union Budget 2023-24: What real estate sector expects from Finance Minister this year
1 year, 11 months ago

Union Budget 2023-24: What real estate sector expects from Finance Minister this year

Firstpost  

The growth of every industry in a nation is dependent on its Budget. Just like every other industry in the country, the real estate sector has its own wishlist for the Union Budget 2023-24. The Indian real estate industry’s market size was valued at Rs $120 billion in 2017 and is expected to touch $1 trillion by 2030, according to …

Union Budget 2022-23: Affordable housing remains mainstream
2 years, 11 months ago

Union Budget 2022-23: Affordable housing remains mainstream

The Hindu  

The Finance Minister has presented a growth-oriented Budget with focus on infrastructure. Credit support Interventions to improve credit to the pandemic afflicted MSME sector including hospitality industry is also a step in the right direction. This announcement will greatly help in sharp growth of data centre capacity in the country and support India’s ambitions of being a strong Data Centre …

Budget 2022: Glad tidings for realty with continued focus on additional allocation
2 years, 11 months ago

Budget 2022: Glad tidings for realty with continued focus on additional allocation

Firstpost  

Union Budget 2022-23: Slew of reforms from both the demand and supply sides would have further strengthened the success of the initiative The real estate sector has seen a healthy revival in 2021, led by the ebbing effects of COVID-19 as well as measures adopted, such as stamp duty cuts, low-interest rates, and the push for affordable homes. The Budget …

Union Budget 2021: From GST reforms to tax breaks, here's what real estate sector is hoping for
3 years, 11 months ago

Union Budget 2021: From GST reforms to tax breaks, here's what real estate sector is hoping for

India Today  

For 38-year-old Pradyuman Singh, the year 2020 could not have come at a worse time. Now with the upcoming Union Budget, I hope that the real estate sector can see some revival and I can find genuine buyers," says Singh who is now venturing into F&B consultancy. "The long-awaited industry status to the real estate sector will greatly impact all …

Union Budget 2019: Real estate sector hopes for industry status, further push to REIT agenda
5 years, 6 months ago

Union Budget 2019: Real estate sector hopes for industry status, further push to REIT agenda

Firstpost  

The real estate sector is hoping the Narendra Modi government’s second term in office will lead to the fulfilment of promises made given that some programs were announced for the sector. Following are a series of expectations from the first Union Budget of the Modi government’s second stint at the Centre: ‘Industry status’ to real estate: With the transformation in …

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