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Budget 2025: Pune’s real estate, other sectors outline expectations

Feb 01, 2025 08:26 AM IST

CREDAI Maharashtra has reiterated its demand for ‘industry status’ to facilitate easier access to funding and attract investments.

As Finance Minister Nirmala Sitharaman prepares to present the Union Budget on Saturday, key sectors—including real estate, non-banking financial corporations (NBFCs), and the bullion market—have outlined their expectations, hoping for policies that drive growth and investment. 

Industry leaders remain optimistic that the upcoming budget will address these concerns, fostering growth across key economic sectors.   (REPRESENTATIVE PHOTO)
Industry leaders remain optimistic that the upcoming budget will address these concerns, fostering growth across key economic sectors.   (REPRESENTATIVE PHOTO)

The Confederation of Real Estate Developers’ Associations of India (CREDAI) Maharashtra, the apex body of private real estate developers in the state, has reiterated its demand for ‘industry status’ to facilitate easier access to funding and attract investments. The sector is also pushing for an increase in the tax deduction limit for housing loan interest under Section 24(b) from 2 lakh to 5 lakh to make homeownership more accessible. Additionally, exemptions on affordable housing remain a key demand. 

Ahead of the Union budget, Pramod Khairnar Patil, president, CREDAI Maharashtra, said, “Considering the stability of the government, CREDAI Maharashtra is confident that these measures, if implemented, will stimulate housing demand, encourage affordable housing, and drive overall sector growth,” said Pramod Khairnar Patil, President, CREDAI Maharashtra.” 

Girish Lakhotiya, founder and CEO of Pune-based NBFC Prachay Group, emphasised the need for tax relief on corporate bond investments. “Reducing taxes on interest received from listed corporate bonds can channel investments directly into businesses. Indian enterprises have immense growth potential, but banking systems alone may not meet their financing needs. To mobilise investments into corporate bonds, the taxation rate on interest earnings should be reduced to 12.5%, aligning it with the capital gains tax on equity,” he said. 

Saurabh Gadgil, chairman and managing director of PNG Jewellers, highlighted the evolving jewellery industry and its growing compliance with financial regulations. “India’s jewellery sector is witnessing strong growth, increasing transparency, and a shift toward organized trade. The Budget 2025 presents an opportunity to further this momentum through tax reforms and policy measures benefiting consumers, thereby boosting demand,” he said. 

He also called for a reduction in import duties and stronger gold monetisation schemes to enhance efficiency and stimulate demand. “Recent IPO successes in the jewellery industry reflect the sector’s credibility, making it more attractive to capital markets. With exports contributing 5% to India’s total, optimising gold circulation and incentivising sustainable practices can strengthen India’s position as a global leader,” Gadgil added. 

Industry leaders remain optimistic that the upcoming budget will address these concerns, fostering growth across key economic sectors.  

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