Budget 2023: What homebuyers can expect?

After years of facing rough weather, 2022 was a strong year for the real estate sector, especially in terms of residential demand. Prashant Thakur, Director, Ananrock tells Editorji's Avni Raja that he hopes the budget announcements provide an impetus to the real estate sector.

Here is Thakur's wishlist from the upcoming budget.

Affordable Housing
The government has already done a lot to boost affordable housing. However, widening the definition of affordable housing is the need of the hour. The Rs 45 lakh cap for affordable housing must be hike to Rs 85 lakh for tier 1 cities and Rs 65 lakh for other cities.

PM Awas Yojana
Budgetary allocation for the Pradhan Mantri Awas Yojana should be increased

Interest on housing loan
The deduction limit for interest payments on home loans from the existing Rs 2 lakh a year should be increased to Rs 5 lakh which will further boost housing demand.