Will realty be granted its wishes in Budget 2023
The last three years have been favourable for buyers of homes. Low loan rates amid the Covid-19 pandemic outbreak and suppressed property prices fuelled increased demand for homes as individuals turned to remote work.
The luxury segment has been outperforming and NRIs are keen to invest in India. The government should look at incentivising this growth. In my opinion, the applicable tax deducted at source (TDS) on property transactions for NRIs should be revised. I believe this move will boost investment in the sector and also help the country to build its forex reserves,” says Kushwaha
Aditya Kushwaha, CEO & Director, Axis Ecorp, points out that in the last couple of years there has been an increased focus on affordable housing, and rightly so. In Budget 2023, he expects the government should adopt home-owner friendly measures and introduce deep policy reforms that will help accelerate the growth in real estate.