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Union Budget 2025: Will It Fulfill the Dream of Affordable Housing?

Union Budget 2025 could be a game-changer for the middle class, as the government is expected to focus on affordable housing. Rising property prices and the real estate sector’s demand for industry status have created high expectations from Finance Minister Nirmala Sitharaman.
 
Union Budget 2025: Will It Fulfill the Dream of Affordable Housing?

Union Budget 2025: With less than five days left for the Union Budget 2025, hopes are high across various sectors. One sector that impacts everyone is real estate. The big question remains: Will this budget fulfill the middle class's dream of owning affordable homes?

Rising Housing Costs: A Challenge for the Middle Class

In cities like Delhi-NCR, Lucknow, and Bhopal, the prices of small 2BHK apartments have crossed ₹50 lakh. The market currently favors luxury apartments, leaving affordable housing as an urgent need for the country. For the middle class, owning a home has become increasingly difficult.

Budget 2025: Expectations from the Government

Finance Minister Nirmala Sitharaman will present the Union Budget on February 1, 2025. Last year, the government hinted at measures to make homeownership easier for the middle class. This year, the focus may shift toward concrete steps for affordable housing.

Industry Status for Real Estate

Industry Status for Real Estate

The real estate sector has long been demanding recognition as an industry. Granting this status could unlock better financing options and improve the sector's overall performance.

The Need for Subsidy Schemes

Over the past few years, the cost of land and building materials has surged, leading to higher home prices and fewer buyers. Udit Jain, Director of One Group, suggests the government should introduce a Credit-Linked Subsidy Scheme to make homeownership more affordable.

Such measures could encourage middle-class families to invest in homes and give the real estate sector the much-needed boost to thrive.

Will the Budget Deliver?

As the Budget day approaches, all eyes are on the government to see whether it will address these challenges. Affordable housing is not just a demand but a necessity for the country's growth and the middle class's aspirations.

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