Real Estate Expects Reforms to Sustain Growth

As the third term of Prime Minister Narendra Modi’s government begins, the real estate sector is optimistic, advocating for crucial reforms for continuation of growth and streamline operations.

Industry players and experts are emphasizing the need for tax rationalization and reduced approval costs to foster a more conducive environment for investment and development.

Stakeholders across the sector are hopeful for reforms will continue to stimulate growth, enhance transparency, and address the pressing challenges of affordability and sustainability.

To shape up India’s real estate landscape, the formation of right and relevant policies will be pivotal. The Pradhan Mantri Awas Yojna (PMAY) scheme needs to be continually pushed to achieve all housing goals efficiently and time-bound.

As cities continue to grow, the call for affordable housing reaches new heights. Industry experts are hopeful of increased government attention and incentives to address the gap between housing supply and demand.

Measures like tax incentives, subsidies, and improved credit opportunities for first-time buyers could play a crucial role. Industry hopes the government will continue to support the housing sector that has linkages with more than 250 allied industries. Reforms in the Goods and Services Tax (GST) structure for the realty sector is among the key expectations.

A streamlined and simplified tax system would be advantageous for developers and homebuyers alike, fostering a more robust market environment.

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