What homebuyers need from Finance Minister Nirmala Sitharaman – India TV
Price range 2025: Homebuyers weren’t pleased with the Price range 2024-25 because it didn’t tackle considerations like excessive rates of interest on residence loans and the annual enhance in stamp responsibility fees. Homebuyers at the moment are anticipating some bulletins from Finance Minister Nirmala Sitharaman that may improve affordability.
Price range 2025: Here is what homebuyers anticipate –
Homebuyers are hopeful that this Price range may have a better funds allocation for presidency initiatives just like the Pradhan Mantri Awas Yojana (PMAY-U). Additionally, they need the loan-linked subsidy to be prolonged as it might promote first-time consumers.
Additionally they need a simplified Items and Providers Tax (GST) framework as homebuyers really feel that there are a number of ambiguities proper now.
The opposite main concern of homebuyers is excessive stamp duties. Homebuyers in sure states face stamp duties of as much as 8-9 per cent. Excessive stamp duties enhance the price of the property considerably. They’re hopeful that the Finance Minister might announce extra uniform and diminished charges.
Additionally, they need the federal government to revise the tax deduction limits underneath Sections 80C and 24(b). At current, homebuyers can have a Rs 1.5 lakh deduction for residence mortgage principal reimbursement. An exemption of Rs lakh is supplied on curiosity reimbursement of self-occupied properties.
In the meantime, the Financial Survey said that the Indian actual property market has carried out properly on robust demand from throughout the nation pushed by financial stability and the creation of bodily infrastructure like roads and metro networks.
The doc, which was tabled in Parliament on Friday, additionally highlighted that the actual property legislation RERA and items and companies tax (GST) have introduced many advantages to the actual property sector.
“India’s actual property market witnessed strong efficiency underneath workplace demand in addition to residential gross sales pushed by financial stability and optimistic market sentiment,” the Survey mentioned.
The demand for actual property is rising not solely in tier 1 and tier 2 cities however throughout the nation as a result of enlargement of metro networks, enhancement to highway networks, and enhancements in connectivity, it added.
