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Budget 2026: Realtors Demand National Rental Housing Mission
24 Jan
Summary
- CREDAI urges a national rental housing mission with tax incentives.
- Affordable housing definitions require revision for current market costs.
- Industry players call for real estate industry status and green building incentives.
In anticipation of the upcoming Budget, CREDAI, the apex body of real estate developers, has formally requested the government to introduce a National Rental Housing Mission. This initiative aims to foster large-scale affordable rental housing in major and secondary cities. The proposal includes significant fiscal incentives for developers and tax relief for tenants, intending to formalize the rental market and support urban migration.
Furthermore, CREDAI has reiterated its long-standing demand for an update to the definition of affordable housing. Citing that current parameters, unchanged since 2017, no longer reflect escalated land and construction costs, the association proposes revised carpet area norms and the removal of the value threshold. This adjustment is seen as crucial for housing to remain a driver of economic growth and employment amidst rapid urbanization.
