1. FM increased the PM Awas Yojana budget by 66%, increase over '79,000 crore over the previous year in affordable Housing Scheme.
2. FM also said " While interest paid on borrowed capital for acquiring or improving a property can, subject to certain conditions, be claimed as deduction from income, it can also be included in the cost of acquisition or improvement on transfer, thereby reducing capital gains. It is proposed to provide that the cost of acquisition or improvement shall not include the amount of interest claimed earlier as deduction."
3.Budget 2023-24’s infrastructure push would help grow the real estate sector in the long term.
4. The Finance Minister forecasts 7% economic growth for fiscal years 2023-24. More development would be seen across the country with a planned capital expenditure of Rs 10 lakh crore, a YoY increase of 33%, attracting more investors. This would improve cash liquidity in the market, benefiting the real estate sector.
5. With a focus on sustainable and planned development, the housing sector could benefit.
6.Urban Infrastructure Development Fund(UIDF) under National Housing Bank (NHB) will help agencies develop infrastructure in Tier -2, Tier -3 cities and Rs10,000 crore budget has been given for this fund .
7. EXEMPTION FOR DEVELOPMENT AUTHORITIES
