NAREDCO Pushes for Tax Exemption Increase
Real Estate

NAREDCO Pushes for Tax Exemption Increase

The National Real Estate Development Council (NAREDCO) has advocated for raising the tax exemption limit on home loan interest to Rs 5 lakh. This proposal is aimed at providing significant financial relief to homebuyers and boosting housing affordability in India.

Currently, the tax exemption limit for home loan interest stands at Rs 2 lakh. NAREDCO's recommendation to increase this limit to Rs 5 lakh is part of a broader strategy to stimulate the real estate sector and address the growing demand for affordable housing. By raising the exemption limit, NAREDCO believes it will encourage more individuals to invest in property, thereby revitalizing the housing market.

The proposal comes at a crucial time as the real estate sector continues to recover from the economic impacts of the COVID-19 pandemic. The increased tax exemption is expected to provide much-needed support to homebuyers, easing the financial burden associated with purchasing a home. This move is also seen as a step towards making housing more accessible to a larger segment of the population.

NAREDCO's push for policy changes aligns with its ongoing efforts to work with the government and other stakeholders to create a favorable environment for real estate development. The organization is hopeful that the recommendation will be considered in the upcoming budget, bringing positive changes for the sector and homebuyers alike.

The proposed increase in the tax exemption limit is also expected to have a multiplier effect on the economy. By stimulating demand for housing, it will likely lead to increased construction activities, job creation, and overall economic growth. NAREDCO's initiative highlights the importance of supportive policies in driving the growth of the real estate sector and enhancing housing affordability in the country.

As the government prepares for the next budget, NAREDCO's proposal for raising the tax exemption limit on home loan interest to Rs 5 lakh will be closely watched by stakeholders in the real estate industry and potential homebuyers, hoping for measures that support their financial needs and contribute to the sector's robust recovery.

Redefine the future of urban mobility! Join us at the Metro Rail Conference 2025 to explore groundbreaking ideas and insights. 👉 Register today!

The National Real Estate Development Council (NAREDCO) has advocated for raising the tax exemption limit on home loan interest to Rs 5 lakh. This proposal is aimed at providing significant financial relief to homebuyers and boosting housing affordability in India. Currently, the tax exemption limit for home loan interest stands at Rs 2 lakh. NAREDCO's recommendation to increase this limit to Rs 5 lakh is part of a broader strategy to stimulate the real estate sector and address the growing demand for affordable housing. By raising the exemption limit, NAREDCO believes it will encourage more individuals to invest in property, thereby revitalizing the housing market. The proposal comes at a crucial time as the real estate sector continues to recover from the economic impacts of the COVID-19 pandemic. The increased tax exemption is expected to provide much-needed support to homebuyers, easing the financial burden associated with purchasing a home. This move is also seen as a step towards making housing more accessible to a larger segment of the population. NAREDCO's push for policy changes aligns with its ongoing efforts to work with the government and other stakeholders to create a favorable environment for real estate development. The organization is hopeful that the recommendation will be considered in the upcoming budget, bringing positive changes for the sector and homebuyers alike. The proposed increase in the tax exemption limit is also expected to have a multiplier effect on the economy. By stimulating demand for housing, it will likely lead to increased construction activities, job creation, and overall economic growth. NAREDCO's initiative highlights the importance of supportive policies in driving the growth of the real estate sector and enhancing housing affordability in the country. As the government prepares for the next budget, NAREDCO's proposal for raising the tax exemption limit on home loan interest to Rs 5 lakh will be closely watched by stakeholders in the real estate industry and potential homebuyers, hoping for measures that support their financial needs and contribute to the sector's robust recovery.

Next Story
Real Estate

Colliers India Transacts 207,000 sq ft office space at Embassy TechVillage

Embassy Office Parks REIT, India’s first listed REIT and the largest office REIT in Asia by area, announced that it has signed an Agreement to Lease (‘ATL’) with global cyber security company Rubrik at Embassy TechVillage in Bengaluru.Colliers, a leading global diversified professional services company, specialising in commercial real estate services, engineering consultancy and investment management facilitated the transaction for Rubrik.Located on Bengaluru’s Outer Ring Road, Embassy TechVillage is one of Embassy REIT’s flagship office parks which offers world-class office spaces, ..

Next Story
Infrastructure Urban

Ensemble Infrastructure India Appoints Suman Saha as Director of Design

Ensemble Infrastructure India Ltd, a leading workplace design and build fit-out company, has appointed Suman Saha as its new Director of Design. With 25 years of experience in the industry, Suman is recognized for his innovative approach and excellence in design leadership.Working closely with the CEO, Suman’s appointment will enhance the company’s design communication across multiple touchpoints, ensuring smooth collaboration between clients, designers, and execution teams for superior project outcomes. Under his guidance, Ensemble will focus on creating workspaces and design labs that em..

Next Story
Products

Ribbon Vanity by Küche7: Fluid Design Meets Everyday Elegance

Küche7, pioneers in luxury stainless steel kitchens, have unveiled the Ribbon Vanity, a graceful creation that transforms bathroom spaces with its soft, flowing design and understated sophistication. Inspired by the fluid form of a ribbon, this vanity combines smooth finishes, clean lines, and gentle curves, offering a timeless aesthetic that seamlessly complements diverse interior styles.Available in a refined blush pink hue, the Ribbon Vanity effortlessly merges functionality with elegance. With thoughtfully designed storage options, it ensures that bathroom essentials are neatly organised ..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000