Budget 2025: 5 big decisions that can benefit middle class home buyers
Rahul Tiwari January 23, 2025 11:21 AM
The budget of the world's largest democracy is going to be presented in just a few days. Finance Minister Nirmala Sitharaman is going to present Budget 2025 on 1 February. All sections have great expectations from this budget. After this budget, it is believed that middle class home buyers can get benefits. According to real estate sector experts, there is a need for a lot of policy changes in the budget regarding financing, taxation and basic infrastructure. Which is very important for the growth of real estate sector. Before this, some expectations are being expressed from the real estate sector. The purpose of these expectations is to promote growth and provide benefits to home buyers.
Real estate people are expecting more share of the budget. This can boost infrastructure like metro, railway network and multimodal corridors. This will lead to development of commercial real estate in urban and peripheral areas. Reducing GST on raw materials like cement and steel will reduce construction costs. Also, it will be easier for the developer to complete the project at competitive prices. In such a situation, it can benefit the middle class. It can also bring down house prices.
Middle class home buyers can benefit from these 8 big decisions
Increasing number of houses is the demand for real estate. For this, the budget for affordable housing schemes should be increased. Apart from this, credit linked subsidy should also be promoted. This will help in the success of Pradhan Mantri Awas Yojana (PMAY-U). The mission of providing a home to everyone will be accelerated.
The current system of GST is very complex. This causes problems to the developer. This also includes simplifying GST rates and implementing a uniform GST rate for residential and commercial projects. This can reduce costs. Homes may become more affordable for home buyers.
Stamp duty is very high in some states. This creates a burden for home buyers. It should make the stamp duty rates uniform on properties up to Rs 1.50 crore. The need for rented houses is increasing in urban areas. The government should make policies to encourage affordable tenant housing schemes. This will ensure great housing for millennials and working professionals.
With real estate getting industry status, developers will get loans at cheaper interest rates. Also the project can be completed on time. This will benefit middle class and affordable housing projects. Tax reforms for home buyers: Increasing the deduction limit under Section 80C and 24(b) of the Income Tax Act may make it easier for home buyers to buy a home.
Better investment procedures and low tax policy for NRI investors will boost investment in Indian real estate. Single-Window Clearance System An easy system will help developers complete projects. Apart from this the cost will be less.