A delegation from NAREDCO Maharashtra, Pune, and Vidarbha recently met Maharashtra Revenue Minister Chandrashekhar Bawankule with key proposals to promote the real estate sector.
The 10-member team highlighted the need to stabilize land rates in the ready reckoner for the financial year 2025-26. They also urged the government to incentivize homebuyers purchasing property in certified green buildings.
Finance Minister Nirmala Sitharaman will present the Union Budget on February 1. As per reports, Modi government is considering cutting income tax for individuals earning up to Rs 15 lakhs per annum in February's budget to provide relief to the middle class and boost consumption as the economy slows.
Speaking on behalf of the real estate industry, Mr. Prashant Sharma, President of NAREDCO Maharashtra underlined his sector's expectation from the Union Budget 2025.
At a time when India is facing economic challenges due to global hurdles, a weak rupee and slowing consumption, the real estate and housing industry is pitching for more incentives, citing that the real estate sector can be a growth harbinger for the country.
As the Union Budget looms, the real estate sector in India is voicing its demands for transformative changes to revive affordable housing, streamline regulations, and boost market demand. Key expectations from industry leaders include tax reliefs, increased funding, and the granting of industry status to real estate.
The National Association of Real Estate Developers Organisation (NAREDCO), representing real estate developers, has urged the Maharashtra government to reduce stamp duty to 3% for a year to boost property transactions.
The body has also asked the government to incentivise homebuyers who purchase property in certified green buildings and to keep the land rates in ready reckoner rate unchanged in the financial year 2025-26.
The gleaming glass facades of luxury apartments in Mumbai’s skyline tell only half the story of India’s real estate market. Behind this veneer of prosperity lies an uncomfortable truth: millions of middle-class Indians are being priced out of their dream of homeownership, creating a silent crisis that threatens the nation’s social fabric.
As the Union Budget looms, the real estate sector in India is voicing its demands for transformative changes to revive affordable housing, streamline regulations, and boost market demand. Key expectations from industry leaders include tax reliefs, increased funding, and the granting of industry status to real estate.
Andhra Pradesh Chief Minister N Chandrababu Naidu announced on Friday that the development works for Amaravati, the state's capital, will resume with a substantial investment of Rs 50,000 cr.
Chief minister N Chandrababu Naidu on Friday said they are moving ahead with the ‘Build AP' slogan and are firm in encouraging the construction sector which was completely demolished in the five-year destructive rule of YSRCP. He said he attended the NAREDCO property exhibition only to show his govt's commitment to boost the real estate sector.
In a bid to boost the construction sector in Andhra Pradesh, Chief Minister Nara Chandrababu Naidu emphasized the pivotal role this industry plays, noting that approximately 34 lakh people depend on it for their livelihoods. During the inauguration of the NAREDCO Property Show in Guntur, Naidu highlighted the government's efforts to rejuvenate the sector, which he described as a "continuous process" essential for the state's economic development.
