Budget 2024: Real estate sector awaits for key policy changes in upcoming full-budget

India’s real estate sector, contributing over 7-8 percent to the country's GDP and serving as a major driver of employment and economic growth, is anticipating significant momentum in the upcoming Union Budget for FY25.

With rising demands for housing, office spaces, and commercial zones, the industry is looking forward to crucial policy changes under the Modi 3.0 administration.

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As per the Financial express report, Real estate players are expecting policy reforms to boost investment from both foreign and domestic sources, revisions in affordable housing caps, changes in taxation rules for property purchases, reductions in home loan interest rates, and industry status for real estate, among other incentives.

The budget is expected to be presented by Finance Minister Nirmala Sitharaman on July 23 or 24.