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Budget 2024 Expectations: In February 2018, the central government granted infrastructure status to affordable housing, allowing the segment to avail the associated benefits such as lower borrowing rates, tax concessions and increased flow of foreign and private capital.
Some of the top themes this interim budget will focus on include rail, infra, defence, manufacturing, clean tech, and affordable housing
According to a study by property consultancy ANAROCK, the affordable housing category saw a decline in overall sales to approximately 20 percent of the overall pie in 2023 from over 30 percent in 2022. Developers ping hopes on the interim budget 2024 to get done the necessary revisions in affordable housing criterion.
Homebuyers say the budget for regulatory bodies like the Real Estate Regulatory Authority (RERA) and also a major tax exemption is needed to provide relief for first-time homebuyers.
According a Moneycontrol survey of economists, the gross tax collections estimate for the next financial year may be pegged at Rs 38.3 lakh crore as against the 2023-24 Budget estimate of Rs 33.6 lakh crore