Real estate hails budget boost but calls for industry status

West Bengal real's property manufacture leaders welcomed the Union Budget 2025-26 for its growth-oriented measures for realty, peculiarly taxation reliefs and a peculiar money for stalled projects, portion besides pointing retired missed opportunities specified arsenic manufacture presumption for existent property and a nationalist rental lodging policy.

Saket Mohta, Managing Director of Merlin Group, hailed the fund arsenic "growth-oriented and development-focused," emphasising its affirmative interaction connected existent estate.

"The revised taxation slabs volition heighten disposable income, boost household consumption, and make country for lodging assemblage growth," helium said.

He besides appreciated the exemption of income taxation up to Rs 12 lakh and the summation successful the TDS threshold connected rent from Rs 2.4 lakh to Rs 6 lakh, which helium said would thrust demand. However, helium expressed disappointment implicit the lack of manufacture presumption for the existent property sector.

Sidharth Pansari, Managing Director of Primarc Group and President of CREDAI Bengal, termed the fund a "progressive roadmap" for 'viksit (developed) Bharat' and 'aatmanirbhar (self-reliant) Bharat'.

"The Rs 1 lakh crore Urban Challenge Fund and Rs 15,000 crore SWAMIH Fund for stalled projects volition revitalise the existent property sector, ensuring timely task completions and accrued lodging supply," helium noted.

Pansari highlighted large infrastructure investments, including road expansion, determination connectivity, and greenfield airports, arsenic cardinal enablers for municipality enlargement and existent property development.

"With PPP-driven infrastructure projects and existent property taxation reforms, this fund lays a beardown instauration for sustainable growth," helium added.

Purti Realty besides applauded the fund for advancing homeownership and infrastructure.

"We, astatine Purti Realty, commend the government's progressive stance successful simplifying taxation benefits for self-occupied properties successful this year's budget. The determination to let the yearly worth of a self-occupied spot to beryllium considered nil, without stringent conditions, is simply a much-needed alleviation for homeowners. Additionally, raising the taxation exemption bounds to Rs 12 lakh empowers the mediate class, the backbone of India's lodging market, by enhancing disposable income and encouraging homeownership," Mahesh Agarwal, Managing Director, Purti Realty said.

Rishi Jain, Managing Director of Jain Group, said, "The Rs 1 lakh crore Urban Challenge Fund volition boost investments, infrastructure, and redevelopment successful cities, turning them into maturation hubs. Integrating hospitality with infrastructure and promoting apical tourer spots volition thrust tourism, portion expanding UDAAN to 120 much locations volition boost section economies and make jobs.

The revised taxation strategy and higher disposable income volition marque homes much affordable, expanding request for existent property and driving economical growth." Sanjay Jain, Managing Director of Siddha, commented, "The Budget 2025 empowers the mediate people by expanding disposable income, providing further currency travel for aspirational homebuyers. This volition boost user spending, stimulate the lodging sector, and unfastened caller opportunities for families to execute homeownership." Shishir Baijal, Chairman and Managing Director of Knight Frank India said, "The simplification successful the income taxation burden, ensuring nary taxation for income up to Rs 12 lakh, volition fundamentally summation disposable incomes and stimulate demand," helium said.

He welcomed the Rs 15,000 crore allocation for the SWAMIH Fund and the removal of taxation connected deemed rent for 2 self-occupied properties.

Baijal besides highlighted the accrued superior expenditure outlay of Rs 11.21 lakh crore, up from Rs 11.11 lakh crore successful FY25, arsenic a cardinal operator for infrastructure development.

However, helium pointed retired the lack of incentives for affordable lodging and a nationalist rental lodging policy, which helium hoped would beryllium addressed successful the future.