Realty sector seeks industry status, tax breaks, big housing push in Budget

Demands include 10x spike in SWAMIH fund to Rs 50,000 cr, uniform 25% corporation tax rate, finalisation of the state rental housing policy, among other things

The real estate sector has high expectations from the upcoming budget, with stakeholders seeking industry status, tax breaks, policy rationalisation and incentivisation. They also want projects approved under a single-window clearance.

Industry experts have called for the continuation of incentives and subsidies under the Credit Linked Subsidy Scheme. They also want the government to increase the SWAMIH fund from Rs 5,000 crore to Rs 50,000 crore to boost residential activity and consumer sentiments.

Niranjan Hiranandani, national vice-chairman, Naredco suggested that the rate of income tax for firms/ LLPs should be aligned with the reduced corporation tax rates and kept at