Ahead of the Union Budget 2026, the real estate fraternity has appealed to the Union Government for significant policy interventions to rejuvenate housing demand and address the challenges of stalled projects.

Industry bodies have highlighted that escalating land acquisition costs and construction overheads have rendered the current tax thresholds obsolete, particularly in rapidly expanding urban corridors.

A primary contention remains the definition of ‘affordable housing.’

Stakeholders argue that the existing ₹45 lakh price ceiling no longer aligns with the market realities of major cities, making several projects financially unviable for developers and inaccessible for intended beneficiaries.

Speaking to The Hindu on Monday (January 12), E. Ashok Kumar, president of the Confederation of Real Estate Developers’ Associations of India (CREDAI), Visakhapatnam Chapter, noted that the current limit acts as a deterrent to growth.

“The ₹45 lakh ceiling and the associated 1% GST benefit are outdated. They do not account for the prevailing land and material costs in most development zones. We propose that the government increase this limit to ₹80–90 lakh,” Mr. Kumar said.

He further advocated for a reduction in GST on works contracts from 18% to 12% to improve project viability and bolster supply.

The sector has also sought enhanced incentives for first-time homebuyers, particularly in the mid-income bracket.

Mr. Kumar pointed out that a significant portion of buyers in this segment currently falls outside the ambit of affordable housing benefits due to the restrictive price cap, thereby missing out on the 1% GST rate and other tax concessions.

The industry’s wishlist includes the restoration of the additional interest deduction under Section 80EEA and smoother credit flow for developers — measures that are expected to lower the overall cost of housing and reduce the burden of Equated Monthly Instalments (EMIs) for consumers.

The CREDAI president further urged the Centre to accord ‘infrastructure status’ to the housing sector rather than treating it merely as an asset class.

While acknowledging the positive intent behind initiatives like PMAY-Urban 2.0, Mr. Kumar stressed that further refinements are essential to translate policy into tangible housing supply in Tier 1 and Tier 2 cities, including Visakhapatnam.

The Confederation of Real Estate Developers’ Association of India’s (CREDAI) Mysuru chapter will be organising a Real Estate Regulatory Authority (RERA) workshop in the city on December 6, 2025.

A statement issued in Mysuru on behalf of CREDAI, Mysuru, said the RERA workshop seeks to create awareness among developers of residential layouts, builders, and other stakeholders in the real estate sector.

Senior officials from Karnataka RERA, Bengaluru, will participate in the workshop which will be held at Mysuru Builders’ Charitable Trust (MBCT) Hall in Vishveshwaranagar in the city.

The workshop is expected to throw light on the latest rules in the real estate sector, compliance procedures, and practical aspects of the RERA Act.

According to CREDAI, Mysuru, senior officials from Karnataka RERA, Bengaluru, will participate in the event and provide guidance on the registration process for ongoing and new projects under RERA, project extensions, and compliance measures, besides creating awareness about customer grievance redressal procedures and common challenges faced by builders and the possible solutions.

CREDAI, Mysuru, has been working to promote transparency and accountability in the implementation of the RERA law, the statement said, before adding that the programme will provide an interactive platform for builders and developers to engage directly with RERA officials and get answers to their queries.

The programme is scheduled to begin at 4.30 p.m. on December 6 at the MBCT Hall and interested persons can contact mobile number ‘9945147472’.