Quick Summary
The Indian real estate sector has urged the government to enhance the monetary cap for affordable housing from the current Rs 45 lakh to at least Rs 75 lakh or even Rs 1 crore, citing rising construction costs and inflation. This demand was highlighted in Grant Thornton Bharat's Pre-Budget 2025 expe
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FAQ :
The current monetary limit for affordable housing in India is Rs 45 lakh.
The sector is proposing to increase the affordable housing limit to at least Rs 75 lakh or even Rs 1 crore.
Developers are seeking the reinstatement of tax deductions for affordable housing projects, previously available under Section 80-IBA.
The sector wants rationalisation of input tax credit (ITC) under GST, especially for under-construction properties, to reduce project costs and improve cash flow.
The sector has urged an increase in the tax deduction limit on home loan interest payments from Rs 2 lakh to Rs 5 lakh, and for the principal repayment deduction to be outside the Section 80C limit.
Recommendations include prioritising rental housing through policy incentives and funding, reforms in REITs and FDI policies, and granting industry status to housing.
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