77% people expect concessions on housing: GT Bharat pre-budget survey

In the pre-budget survey by GT Bharat, besides concessions in the housing sector, 51 per cent of people want changes in the GST

Real estate sector expects measures on affordable housing in the budget

A pre-budget series of surveys conducted by Grant Thornton Bharat showed that 77 per cent of the respondents expect concessions on the housing space.

Besides, 51 per cent of the people expect the interventions on the GST side to offset the rising input costs, the surveys revealed. Further, 55 per cent of people expect the realty sector to be given infrastructure status.

To gauge the market sentiments and better understand the expectations from the Union Budget for FY23, the independent advisory and consultancy firm conducted a series of surveys across sectors where more than 1,000 respondents participated through digital platforms.

“The real estate sector has seen volatility in demand in the past few years. With the government now dealing with dynamic challenges like the rise in co-working spaces and rental infrastructure, it is expected that changes will be made to the existing norms,” said Sumeet Abrol, REI M&A Leader and Partner at Grant Thornton Bharat.

Also, 50 per cent respondents expect incentives on rental and co-working segments.