Shekhar Patel, President, CREDAI

The budget should come up with positive policy announcements to promote housing, particularly affordable housing. The price cap on affordable housing should either be removed or doubled to allow more homebuyers to avail the benefit of concessional 1% GST on affordable homes. Further, reduction of GST on work contracts for developers from 18% to 12%  or 5% would bring down apartment prices, in turn boosting supply. Restoration of additional interest deduction under Section 80 EEA , to benefit first time home buyers, granting infra status to housing sector and  streamlining project approvals , would further help  the growth of housing sector. 

Niranjan Hiranandani, Chairman, NAREDCO

One major hurdle before affordable housing is the unrealistic price cap of INR 45 lakhs . In a city like Mumbai, it is just not possible to get a 600 sq ft apartment at a price of INR 7500 per sq ft to fit in the price cap of INR 45 lakhs. So,  the upcoming budget must revise the existing price cap for affordable housing in urban areas. This would help push the supply of affordable housing. Further, the budget should unveil  supporting measures to make  rentals affordable in big cities.

Anuj Puri, Chairman, Anarock

The budget must accelerate last-mile urban infra through robust funding to boost affordable housing supply. And as a priority step, the budget should reintroduce 100% tax holiday for developers of affordable and mid-income  housing to boost margins and  push supply. The budget can address the massive shortage of affordable housing units with an annual budgetary allocation of INR 10-15k crore every year which would directly help 1.5-2 million first time homebuyers over the next 5 years. Raising the threshold price of affordable homes would also give a much needed boost to affordable housing.

Ashish Raheja, MD & CEO, Raheja Universal

For developers operating in the premium market , the upcoming budget presents an opportunity to strengthen the momentum through policies that encourage long-term planning and market stabilityContinued focus on urban infra, improved connectivity and city level upgrades  will enhance livability of established and emerging corridors. A supportive policy framework in 2026 budget, can help align these evolving expectations with efficient development practices, timely project delivery and sustained buyer confidence, supporting aspirational home ownership across differentiated luxury markets.

Shishir Baijal, Chairman & MD, Knight Frank India

As a large number of homebuyers are unable to avail interest subsidy benefits under CLSS scheme of PMAY, due to low price cap for affordable homes, budget housing has been adversely impacted. To invigorate the housing market ,especially in affordable housing, besides raising the threshold home price, tax rebate on home loan interest rates should be hiked from INR 2-5 lakh and a separate annual deduction of INR 1.5 lakh  for principal repayment of home loans be allowed in the budget to improve housing affordability. Home purchase should be made more tax efficient with long-term capital gains benefit. A 100% exemption for rental income up to INR 3 lakh for homes costing up to INR 50 lakh  and making surplus public sector land available for affordable long-term rental housing are other recommended measures.

Murali Malayappan, CMD, Shriram Properties 

Amidst escalating home prices  and affordable  and mid-segment homes going out of reach of common people , leading to societal imbalance, there’s an urgent need for taking key policy measures to remove GST, restore input tax credit (ITC) and eliminate stamp duty. These significant measures could well bring down the cost of homes by up to INR 1000  per sq ft , in turn boosting the demand and supply. 

Pradyumna Krishnakumar, ED & Interim CFO, Brigade Enterprises 

Affordable housing must be redefined based on total home cost , with city-specific price limits so that more projects can qualify for subsidies and concessional loans. The tax holiday under Sections 80-1BA of the Income Tax Act which boosted affordable housing and was allowed to expire in 2021 , should be revived . Tax relief for affordable housing developers would also help reignite housing supply. 

Akshay Taneja, CEO, TDI Infrastructure 

The budget must send clear growth -oriented signals, considering that Tier-2 cities across North India and NCR’s outer belt are emerging as key growth hubs, transforming into self-sustained residential and luxury clusters powered by major infra upgrades. Raising affordable housing price threshold to INR 75 lakh, granting full industry status to  real estate, simplifying tax structures, rationalizing capital gains timelines with indexation, GST rationalization, uniform stamp duty, enhanced home loan deductions, single-window clearances, upgraded PMAY Urban 2.0, increased incentive-linked funding , will strengthen affordability and foster integrated community-centric townships across emerging cities. 

Vikas Bhasin, MD, Saya Group

Budget should ensure continuity in reforms- investments in infra development, expanding flagship programmes like CLSS under PMAY to promote ‘Housing For All’. From developers point of view, budget should lower borrowing cost by improving access to institutional financing. Reduction in GST and stamp duty which together add 12-15% to home cost , should be undertaken to boost purchasing power of homebuyers, especially affordable and mid-segment housing buyers. Further, to make EMIs affordable, I-T deduction on home loan be enhanced to INR 5 lakh  to push end-user demand. 

Adhil Shetty, CEO, Bank Bazaar

Budget should focus on easing pressure on household incomes  while improving access to formal credit. On taxation, while the new tax regime has raised the 30% slab threshold to INR 24 lakh, inflation continues to push professionals into higher brackets. Indexing the top slab to inflation or revising it could free up INR 2-3 lakh annually from savings for investment. This can be complimented by a flat deduction for long-term protection products. Collectively, these measures can enhance disposable incomes and align India’s credit and tax system with current economic reality.