Union Budget 2023: What do home buyers expect from Nirmala Sitharaman

 

• Budget 2023: Improvements in infrastructure such as roads, public transport and utilities, could make some areas more attractive to home buyers and increase the value of properties in those areas

With the next Lok Sabha elections to be held in April-May of 2024, Budget 2023 could be the last full budget of the second term of the Narendra Modi government. Players - From Taxation to Regulation.

Rohit Gera, Managing Director, Pune said, “However for home buyers, I would like the government to bring in more relief by increasing the income tax deduction on the interest paid for homes. The government definitely needs to make it easier for people to buy homes. should work in that direction. -Centered Gera Development said.

Anuj Sharma - Chief Operating Officer - IMGC, lists 7 pre-budget expectations for home buyers

1) Tax exemptions or deductions for first-time home buyers: These measures can help reduce the overall cost of buying a home, making it more affordable for first-time home buyers.

2) Increase in allocation for housing schemes: This may help in increasing the availability of affordable housing options for home buyers.

3) Infrastructure development initiatives: Improvements in infrastructure such as roads, public transport and utilities can make certain areas more attractive to home buyers and increase the value of properties in those areas.

4) Measures to increase housing supply: This could include initiatives to make it easier for developers to build new housing projects or measures to encourage construction of more affordable housing.

5) Measures to regulate the real estate market: This may include efforts to curb speculation and prevent price inflation, making it easier for home buyers to purchase property.

6) Lower interest rates: Lower interest rates on home loans can make it more affordable for home buyers to borrow money to buy a home.

7) Relaxation in norms for availing home loans: This could include measures such as reducing the down payment required or easing the eligibility criteria for home loans, making it easier for home buyers to secure financing.