Budget 2025 expectations: This is what homebuyers look forward to from the finance minister
Budget 2025 expectations: Homebuyers want the Budget to provide tax sops to buyers whose homes have been delayed.
With almost five lakh housing units stuck in various stages of construction across cities, homebuyers hope that Budget 2025 will focus on giving them more money and incentivising those who have not received possession of their homes for years despite having paid almost 80%- 100% of the amount to the real estate developer.

A report by PropEquity had noted that almost 2000 under-construction housing projects totalling over 5 lakh units across 44 cities have been stalled due to real estate developers' financial mismanagement and lack of execution capabilities.
Greater Noida, among tier I cities, saw the highest proportion of stalled units at 17% (74,645 units in 167 projects), followed by Thane and Gurugram with 13% (57,520 units in 186 projects) and 12% (52,509 units in 158 projects), respectively. Mumbai has the maximum number of 234 stalled projects, with 37,883 units, followed by Bengaluru with 225 projects comprising 39,908 units and Thane with 186 projects.
According to Abhay Upadhyay of the Forum for People’s Collective Efforts, thousands of buyers have not received possession of their homes for over a decade despite having paid 80 to 100 per cent of the amount to the developer.
“Most people have shifted to the new tax regime where no deductions are available. If there are homebuyers who have opted for the new scheme and have not received possession of their homes for no fault of their own, they should be given relief, and the real estate developers who have not given possession on time be taxed heavily,” he said.
Almost five lakh homes have been delayed. Most of these are legacy/pre-RERA projects. The government should identify these buyers and give them relief, he said.
"All legacy projects (pre-RERA-registered projects) that have been delayed for over a decade need to be identified. The government should introduce a scheme to find relief for such buyers and ensure that these projects are completed,” he added.
He said that builders who have not delivered these projects on time should not be given any incentives, adding that homebuyers who have invested in projects launched after RERA and where possession is delayed should also be given relief.
Increase tax rebate on housing loan interest
Homebuyers also say that high interest rates have dented affordability and are beginning to hurt their repayment capacity. They want the government to enhance the tax rebate on housing loan interest from ₹2 lakh to at least ₹5 lakh.
Megha Dattani, a 35-year-old homebuyer in Mumbai, expects the government to increase the exemption limit of home loan interest exemption for income tax up to ₹5 lakh from the current limit of ₹2 lakh.
"I plan to purchase an apartment in Mumbai suburbs for around ₹3 crore, for which the annual EMI for the home loan will be around ₹24 lakh. Therefore, the income exemption limit for a home loan of ₹2 lakh is very low. The government should increase that limit to ₹5 lakh," she said.
Rajiva Singh, president of the Noida Federation of Apartment Owners Association (NOFAA), believes that the Amitabh Kant panel's proposals should be implemented in their entirety. In Budget 2025, homebuyers who have not been able to register their homes, such as those invested in Sports City projects in Noida, should be provided incentives.
Allocate a higher amount for SWAMIH Fund
Some buyers hope the government will consider granting a higher amount for the Special Window for Affordable and Mid-income Housing Fund (SWAMIH). This would be very helpful for stalled projects.
"The government should look into allocating ₹50,000 crores to SWAMIH to fast-track the completion of ₹4 trillion worth of pending housing projects across the country. This decisive action will end the prolonged agony of millions of homebuyers and restore faith in the real estate sector. Prioritizing these stalled projects is crucial to revitalizing the economy and ensuring justice for affected families," said Sudhakar Lakshmanaraja, a Bengaluru-based homebuyer.
