‘Anticipated Budget 2024 from esteemed real estate experts’

Bhavesh Kothari, Founder and CEO of Property First:

“I think this year’s budget will enable the real estate sector to explore new things and will create win-win for both buyers and builders. While the expectations are certainly high, one of the key things that will turn favorable for the sector is tax rationalization. Having said that, special attention is needed when it comes to capital tax gains. The reduction in the prevailing capital gain tax will not only create optimism among the retail investors who are looking for simplification but will also incentivize more investments in REITs and infrastructure investment trusts (InvITs). Besides, the sector is also eagerly waiting for policy incentives and re-introduction of schemes that favor the end users, which in turn will generate more demand in the market.”

Angad Bedi, Managing Director, BCD Group:

“With the upcoming budget round the corner, there are certain expectations that could add up to the existing bullish sentiment prevailing in the real estate market. One of the key expectations from the government is a robust policy impetus to boost the industry. This could be in the form of tax breaks, rebates, and allocation of funds, to create favorable conditions for both the builders and buyers. Another important move would be the focus on ‘affordability’. While the luxury segment grew exponentially, in the last one or two years the sales of affordable homes saw decline. I hope, this budget will relook at the qualifying cost that impacted the affordable segment and will take steps to revive the segment.”

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