Experts are hopeful that the upcoming union budget will bring significant changes to propel the real estate industry.

As India gears up for the Union Budget 2024, the Indian real Lestate sector, which has witnessed robust growth and demand recovery post-pandemic, is expected to receive some stimulus to propel its growth further. As industry experts and stakeholders look forward to the upcoming budget, the realty sector anticipates several key reforms to drive growth and efficiency.

The rise of the environmental, social, and governance (ESG) agenda in real estate necessitates direct financial incentives. "We expect tax benefits provision for corporate green bonds and exemptions to encourage the development of net-zero buildings," says Dr Samantak Das, chief economist and head of research and REIS, India, JLL.
Aditya Kushwaha, CEO and director, Axis Ecorp points out that transparency has significantly boosted the realty sector and further prioritised it by strengthening RERA and enhancing digital platforms for property transactions can foster trust and reduce fraudulent activities.