Real estate developers anticipate Union Budget 2012 to bring pragmatic provisions, including increased infrastructure funds for housing and removal of service tax on residential construction.
The Pune Municipal Corporation has announced a 50% reduction in premium charges for small housing units under 50 square meters.
Finance Minister P Chidambaram assured real estate developers that the government will encourage banks to boost lending and lower interest rates for affordable housing.
The DDA will sell 5000 flats at prices significantly lower than private developers, offering hope to prospective homeowners in Delhi amidst rising real estate costs.
Prospective home buyers should prioritize affordability over fear of missing out, as current real estate prices are excessively high, with a 30% correction needed for sustainability.
The Indian real estate sector is optimistic about the recent budget but calls for further action to meet industry demands, with key benefits noted for housing and infrastructure.