Budget 2024-25: Here is what experts expect for the real estate sector

The Indian real estate peaked in 2023 with sales close to 5,00,000 in major cities, growing Y/Y by 31%. The bullish sentiments in the market will further continue in 2024 backed by a healthy macroeconomic outlook, stable lending rates, and an upbeat job market. Meanwhile, the government should also bolster growth through prudent initiatives. One of them could be increasing the tax rebate on income tax to INR 5 ahs from 2 lakhs. This will attract genuine homebuyers and boost the demand. Likewise, it should look into other parameters such as reducing the repo rates, offering tax holidays to developers, and finding other alternative sources of project funding.