So let’s look at some of the major expectations they expect for Budget 2024 from various industry experts. Currently, it comprises just 20% of the total housing sales, a marked difference from pre-pandemic days, when it accounted for 40% of sales. 2) Industry status in real estateTo boost the real estate industry, the government should consider giving it industry status, and provide single window clearance, tax breaks, and GST rationalization in the budget. In the coming budget, the governing agencies should look into giving real estate the industry status which is long due alongside mulling over single window clearance, tax breaks, and GST rationalization. “This adjustment could particularly benefit budget homes, facing a 20% decline in sales in 2023 due to the pandemic,” another industry expert said.

Source: Mint January 09, 2024 12:49 UTC