In its budget wishlist, the apex real estate body Naredco has come up with a number of suggestions/recommendations for the government, in order to push affordable housing to achieve the mission of  ‘Housing For All’ and boost the overall  real estate sector.

Presenting their budget memorandum to the media, Naredco President Parveen Jain, and Chairman Niranjan Hiranandani underlined the need for raising the price cap of affordable housing from INR 45 lakh to INR 75-80 lakh and enhancing home loan interest deduction limit from the existing INR 2 lakh to INR 5 lakh , in order to push housing demand. 

On the supply side push, Naredco stressed on the need for a tax holiday for affordable housing developers, cheaper finance for constructing affordable homes and introducing incentivized policy to promote rental housing.

The leading developers’ body also recommended industry status for the real estate sector to help it achieve the twin goals of  ‘Housing for All’ and the  USD 1 trillion industry by 2030.