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As the Budget 2023 is around the corner, just like other sectors, real state industry also has a slew of expectations from FM Nirmala Sitharaman 

Budget 2023: What homebuyers want 

Budget 2023: What the real estate sector & homebuyers expect 

The real estate industry and homebuyers alike are hoping that the upcoming budget will have measures to inventivise homebuyers and boost the sector.&nbsp;

The real estate industry saw a promising 2022. A research report by Anarock consultants says that residential property sales grew by 50% last year as compared to 2021. However, now, the industry is hoping for significant measures in Budget 2023, to sustain the growth that the sector has seen.&nbsp;
Affordable housing: In cities like Mumbai, Delhi-NCR and Bengaluru, the definition of affordable housing is changing. Therefore the real estate industry is seeking an increase in the price cap of affordable housing from the current Rs 45 lakh to Rs 75-80 lakh.&nbsp;
Home loan interest rates: The real estate industry has also recommended that government should increase deduction limit under Section 24. Currently, taxpayers can claim a deduction for interest paid on a home loan up to Rs. 2 lakhs. If it is extended to Rs 5 lakh, it would be a big boost the real estate sector.
Affordable rental housing: In order to boost rental housing for the affordable sector, the&nbsp; government should include measures such as providing tax incentives for developers who build rental housing projects. Single-window clearance: According to Anuj Puri, Chairman of Real estate agency - Anarock Group, the demands for single-window clearance and industry status for real estate are among the recurrent ones and have yet to be addressed. The sector hopes that the forthcoming budget will finally address it.&nbsp;

After a strong 2022, the real estate sector is hoping for announcements that will both benefit homebuyer and continue the momentum for the sector. Prashant Thakur of Anarock lists out what he hopes will be announced for the sector  

Budget 2023: What homebuyers can expect? 

After a strong 2022, the real estate sector is hoping for announcements that will both benefit homebuyer and continue the momentum for the sector. Prashant Thakur of Anarock lists out what he hopes will be announced for the sector&nbsp;&nbsp;

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.&nbsp; Here is Thakur's wishlist from the upcoming budget.&nbsp; 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.&nbsp;
PM Awas Yojana Budgetary allocation for the Pradhan Mantri Awas Yojana should be increased&nbsp; 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. 
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