BUDGET 2023 OUTLOOK FOR REAL ESTATE Real Estate sales in 2022 at 9 year high. If the PM or the Finance Minister wants a double digit growth in GDP, say 10% + then they will have to push Housing and Infrastructure, otherwise they will be stuck to 6 or 7 %GDP. The opening of the two Metro Routes, and the soon to be opened Cross Harbour Bridge, Coastal Road on western side to be completed by year end, all will give a further push to real estate in Mumbai Region. Standard deductions on Individual Home Loans should be raised to Rs.5 Lakhs from current Rs.2 Lakhs. Capital Gains time frame should be made equal to investments in Capital Markets.Rental housing can be given a boost by increasing the standard deduction from 30% to 50% for rental housing for new construction.
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