By Shray Verma, CEO at Shray Projects
Shray Projects views the recent budget positively for real estate, especially in affordable housing. PM Awas Yojana (PMAY) 2.0 targeting one crore urban families and a substantial allocation of 10 lakh crore for urban housing are key highlights. The potential stamp duty rationalization for female homebuyers and emphasis on infrastructure development near 100 cities are also promising. Challenges in rental housing transparency remain, but the overall focus on affordable housing and infrastructure is encouraging for industry growth.
- Affordable Housing: The Budget announcement includes the launch of PM Awas Yojana (PMAY) 2.0, targeting one crore urban poor and middle-class families with a substantial allocation of 10 lakh crore for the urban scheme. This initiative aims to address the significant demand for affordable housing by providing 3 crore houses, thereby revitalizing this crucial segment of the real estate market.
- Stamp Duty: The anticipated revision of stamp duty rates across states aims to benefit female homebuyers by making property registration more accessible and affordable. This initiative not only aims to reduce transaction costs but also promotes gender equity in property ownership.
- Tax Reforms: The Budget introduces revisions in tax slabs and increased deduction limits under the new tax regime, with the potential to significantly enhance disposable income for taxpayers. These reforms are expected to stimulate investments in residential real estate and other sectors, driving economic activity and promoting overall financial well-being. By simplifying tax compliance and reducing the overall tax burden for individuals.
