Representative image: Land and allied approvals should also be expedited so developers can ensure timely possession of units.
Credit: DH File Photo
Finance Minister Nirmala Sitharaman will present the 8th consecutive Union Budget on February 1, 2025. Reports suggest that the government is mulling over cutting income tax for those who are earning up to Rs 15 lakh a year in February's budget, in turn providing relief to the middle class.
The housing sector has pinned high hopes on the Union Budget FY 2025-26 documents and is keeping its fingers crossed regarding their expectations from the government's most important financial document of the year.
“As part of RBI’s priority sector lending segment, affordable housing can be provided support by revising the core definition and incentivising developers to boost the supply of affordable homes.
Developers must be incentivised through supportive measures like increased liquidity and easier credit access at competitive terms.
Land and allied approvals should also be expedited so developers can ensure timely possession of units.
To revitalize the housing segment, it is also necessary to increase the affordable housing loan amount limit from Rs 20 lakh, especially for metro cities, to broaden accessibility and address rising land costs,” said Deepak Patkar, CEO & MD, SMFG India Home Finance Co. Ltd. (Formerly Fullerton India Home Finance Co. Ltd.)
Union Budget 2025 | Nirmala Sitharaman, who continues to be Finance Minister, will present her record 8th Union Budget this time. While inflation has burnt a hole in the pockets of 'aam janata', reports suggest there might be a tax relief for those making up to Rs 15 lakh per year. Track the latest coverage, live news, in-depth opinions, and analysis only on Deccan Herald. Also follow us on WhatsApp, LinkedIn, X, Facebook, YouTube, and Instagram.