Even as the Interim Budget 2023 is set to be introduced in Parliament on February 1, there are expectations from various sectors for the budget announcements. The real estate sector expects increased budget allocation for infrastructure, focus on promoting affordable housing, introducing tax rebates, and granting industry status to the sector.

Aditya Kushwaha, CEO and director Axis Ecorp, said, “India’s housing market showed impressive growth in 2023, overcoming challenges like rising property prices and the highest interest rates in six years. Despite these obstacles, the demand for real estate, particularly in the luxury and second home categories, remained robust. We anticipate that the 2024 Budget will favour homebuyers, supporting the sector’s ongoing growth. The recent focus on affordable housing is expected to continue even in the coming fiscal year."