Union Budget 2023: 7 Things Home Buyers Expect From The Budget

Home buyers in India may have many expectations from the Union budget, some of which could include:

1. Tax exemptions or deductions for first-time home buyers

These measures can help reduce the overall cost of purchasing a home, making it more affordable for first-time buyers.

2. Increased allocation for housing schemes

This can help increase the availability of affordable housing options for home buyers.

3. Infrastructure development initiatives

Improvements to infrastructure, such as roads, public transport, and utilities, can make certain areas more attractive to home buyers and increase the value of properties in those areas.

4. Measures to increase the supply of housing

This could include initiatives to make it easier for developers to build new housing projects or measures to encourage the construction of more affordable housing.

5. Measures to regulate the real estate market

This could include efforts to curb speculation and prevent price inflation, which could make it easier for home buyers to afford properties.

6. Interest rate reductions

Lower interest rates on home loans can make it more affordable for home buyers to borrow money to purchase a home.

7. Relaxation of rules for availing home loans

This could include measures such as reducing the required down payment or easing eligibility criteria for home loans, which could make it easier for home buyers to secure financing.

About the author

(Anuj Sharma - Chief Operation Officer - IMGC. IMGC is a joint venture of International Finance Corporation, ADB Bank, Genworth USA, Brookfield-owned Sagen, and National Housing Bank)