CREDAI Calls for Affordable Housing Tax Incentives in Upcoming Budget

CREDAI, representing over 15,000 realtors, urges the government to offer tax incentives for affordable housing projects and increase the Rs 45-lakh price cap to Rs 90 lakh in the 2026 Budget. They advocate for reduced GST on work contracts to lower housing prices and aim for carbon neutrality by 2047.

The Confederation of Real Estate Developers' Associations of India (CREDAI) is pushing for government tax incentives to spur the development of affordable housing. In anticipation of the 2026 Budget, CREDAI, representing over 15,000 developers, calls for adjustments to the present Rs 45-lakh cap on affordable housing.

National President Shekhar Patel stressed the need for change, citing increased input costs since 2017. He advocates raising the cap to Rs 90 lakh or scrapping it altogether to meet soaring demand. The real estate group is also organizing a national conclave in the national capital in December.

CREDAI is also pushing for reduced GST rates from 18% to 12% on work contracts to help lower apartment prices. The organization's proactive initiatives include promoting green building and aiming for net-zero carbon emissions by 2047 through afforestation efforts.