NEW DELHI: As finance minister Nirmala Sitharaman prepares to unveil the Union Budget 2025, real estate industry leaders are voicing key expectations, including the formal recognition of co-working spaces as a distinct industry and increased infrastructure investments to support urban growth.
Rishi Das, executive director & CEO, IndiQube, emphasized that coworking spaces require a separate industry classification. “Currently, we find ourselves categorized within broader real estate or commercial classifications, which fail to capture the unique dynamics of our business model. Formal industry status would be transformative, providing access to tailored policies and a supportive regulatory framework.”
Saransh Trehan, managing director, Trehan Group, underscored the need for infrastructure development to support real estate expansion. “Special focus on infrastructure development, streamlined approval processes, and support for green construction practices will benefit developers and buyers alike,” he said.
Badal Yagnik, chief executive officer, Colliers India, highlighted the importance of transit-oriented development and logistics efficiency. “Significant improvement in these areas is particularly desirable for equitable growth dispersion. Coordinated efforts from various government and regulatory bodies will be pivotal in transforming emerging cities into economic corridors of the future.”
Additionally, industry leaders are calling for regulatory reforms to boost foreign investments. Shabala Shinde, partner, Grant Thornton Bharat, noted that encouraging rental housing, Real Estate Investment Trusts (REITs), and foreign direct investment (FDI) can improve liquidity and catalyze investments. “Strengthening urban infrastructure, smart cities, and digitized land records will enhance transparency and operational efficiency.”
Sebi Joseph, president, Otis India, stressed that strategic steps such as targeted investments, substantial tax reliefs, enhanced funding mechanisms, and robust infrastructure initiatives would provide the much-needed impetus for developers to build homes across all segments.
Amit Ramani, chairman and MD, Awfis Space Solutions, pointed out the necessity of easing the business environment for startups and simplifying regulatory procedures in Tier-II cities. “Enabling ease of business in smaller cities will reduce operational costs and create a nurturing environment for innovation,” he said.
Amit Jain, chairman and MD, Arkade Developers, suggested that easing borrowing costs through interest rate cuts and introducing targeted tax incentives for individuals and developers can help balance rising home prices and high borrowing costs. “Stimulus measures for SMEs and MSMEs, coupled with job creation and skilling initiatives, can boost overall economic activity, indirectly benefiting the real estate market.”
