Sneak Peek: Budget 2022 And Real Estate

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The Union Budget 2022 is not too far away and that means the routine pre-budget consultations have begun. 

How's It Looking Like For Real Estate?

Per this report, industry experts who have read the tea leaves say that this year, focus will be on:

• Making the affordable housing segment stronger and more accessible to all
• Providing a policy and regulatory framework to kick-start rental housing at scale
• Welding together a mechanism to provide much needed liquidity to stuck housing projects

Quick Recap 

Budget 2021 was focussed on affordable house too, having extended the benefit of additional interest deduction on home loans for first-time homebuyers in the segment. 

Plus, the period of tax holiday claim on profits from affordable housing projects was extended to March 2022.

What's The Ask?

There are two. 

First, there is the long-standing demand to expand the definition of affordable housing to include homes priced over INR 45 lakhs in top Indian metros. 

Second, real estate developers want the affordable housing financing scheme to be made available for the mid-segment too.