Interim Budget 2024 falls short in addressing housing sector concerns
Hopes for industry status, tax incentives, support for affordable housing, and relief for liquidity challenges among developers were left unfulfilled
Despite these shortcomings, a cautious optimism can be gleaned through alternative perspectives:
Indirect benefits: The budget's emphasis on infrastructure spending could indirectly boost the housing sector by enhancing connectivity and stimulating overall economic activity, potentially generating heightened demand.
Affordable housing focus: Although specific budget allocations were absent, the government's recent commitment to "Housing for All" and the Pradhan Mantri Awas Yojana (PMAY) may translate into concrete measures in subsequent announcements.
Uncertainty avoidance: The absence of adverse changes may be regarded as a positive outcome, particularly in the face of prevailing economic challenges.
It's essential to note that this is only the interim budget, and more substantial announcements are expected in the main Union Budget scheduled for February. Even without direct interventions, government policies influencing interest rates, inflation, and economic growth can exert significant influence on the housing industry.
