Pre-budget quote from Mr. Harshvardhan Tibrewala Director Roha Realty
After agriculture, realty is the second-largest sector that provides employment and contributes to over 8% of the national GDP. This year, the government in its 2024-25 Budget should focus on providing sops to the housing segment through tax breaks, fiscal support, and policy impetus.
The industry is optimistic about a potential increase in the cap for the credit link subsidy scheme and the introduction of tax benefits for first-time homebuyers. These measures are considered crucial for maintaining the sector’s positive momentum Moreover, there is a need for increased allocation for infrastructure enhancement pan-India and warehousing connectivity.
With the surge in e-commerce, enhanced connectivity for warehousing facilities is pivotal for streamlining the movement of goods, reducing transit times, and optimizing logistical operations. A strategic allocation towards road and rail connectivity, coupled with modernization initiatives such as dedicated freight corridors, will not only ease congestion but also enhance the overall efficiency of the supply chain.
The sector is eagerly anticipating the upcoming Budget and we urge the government to introduce significant incentives for the establishment of Electric Vehicle (EV) charging stations along main roads nationwide. Recognizing the vital role EVs play in fostering a cleaner and greener future, we hope for strategic policy measures and financial support that will not only accelerate the adoption of electric vehicles but also contribute to the development of robust charging infrastructure and urban mobility.