Budget-2025 Fever: Watch out the Exclusive Demands from Key Realtors

Pradeep Aggarwal, Founder & Chairman, Signature Global (India): "As we approach the upcoming budget, the real estate sector is optimistic about reforms that can act as growth catalysts and enhance operational efficiency. Revising the current tax exemption limit on housing loans to Rs. 5 lakhs, in line with rising property prices and construction costs, could provide significant relief to homebuyers. This step would directly support millions of aspiring homeowners and boost demand across the sector.

Equally transformative would be granting industry status to real estate, a move capable of invigorating over 200 allied sectors. Such recognition would foster job creation, enable skill development, and amplify economic activity, further solidifying the sector’s position as a cornerstone of India’s economy.

The real estate industry is poised to play a defining role in India's journey toward bStrategic reforms, such as adjustments to GST input tax credit regulations, could reduce developers’ tax burdens, potentially stabilizing property prices and making housing more accessible. Additionally, introducing a Rs. 5 lakh subsidy for housing loans up to Rs. 1 crore would offer crucial financial support to urban and semi-urban homebuyers.

Broadening the definition of affordable housing to include properties priced up to Rs. 1 crore would align with evolving market dynamics and strengthen the government’s vision of 'housing-for-all.' These reforms, if implemented, could unlock tremendous potential, propelling the sector toward sustainable growth while contributing significantly to the nation's development goals."

Rajiv Gupta, Managing Director, Wave City Limited: “Real estate is one of the most critical sectors for building the momentum needed for the overall economic growth rate at 7% plus orbit. To keep the sector in the high growth trajectory, the government should provide incentives such as increasing tax deduction limits, rationalising the GST rate on under-construction properties to 5%, and introducing tax benefits for first-time home buyers. In addition, government should reduce the interest rate for home loan to stimulate the demand in the real estate sector, making housing more affordable and accessible to all”.

Peush Jain, MD-Commercial Leasing and Advisory, Anarock Group: "The office sector growth is expected to stay buoyant with supply to touch a billion sq.ft. by the end of the 2025 with record leasing activity led by GCCs and flex space operators. The Budget must focus on not just maintaining India’s growth momentum but also initiating reforms that will aid India’s attractiveness as an investment destination for both domestic and foreign companies. Input tax credit on fit-outs, review of depreciation and amortisation rates for assets on the backdrop of larger adoption or AI and incentivising new technology sectors would fuel the office demand evenly across the country".

Ultimately, the industry is hopeful and believes the Union Budget 2025 will pave the optimistic way for a more revitalized and vibrant real estate sector. Industry veterans believe that their demands will be fulfilled and improve affordability, and housing demand, and foster overall economic growth. Let’s hope that Union Budget 2025 introduces strategic initiatives that exhibit the potential to ignite the growth fuel in the realty sector.