Indian economy is fundamentally backed by the real estate sector, and North Bangalore is fast gaining popularity as an investment hotspot. With the Union Budget 2025 on the horizon, industry specialists and homebuyers are eagerly awaiting deeper insights into proposed reforms expected to modernize real estate, advance infrastructure, and provide fresh avenues for developers and investors.
At SSP Group, our focus is on transforming the North Bangalore region with developments that meet high standards and capture the region’s demand. Let’s analyze the primary expectations regarding the new budget and its implications on North Bangalore’s rapidly growing real estate sector.
1. Tax Reforms and Incentives
Tax incentives significantly increase the affordability of homes and augment investment in real estate.
Increase In Tax Deduction For Home Loan Interest: The sector hopes that the deductibility of section 24(b) will increase from ₹2 lakh to ₹5 lakh in which case home loans will be more appealing to buyers.
Deduction For Principal Repayment: This will further enhance the prospects of encouraging home buying through a separate deduction under section 80C.
Tax On Construction Service: The premium residential market of North Bangalore will benefit from a lower GST and the removal of CSTS on construction of under-marketed properties.
At SSP Group, we believe that these changes will benefit homebuyers and increase the demand for our carefully designed residential and commercial developments in North Bangalore.
2. Boosting Affordable Housing
Cost-efficient accommodation continues to be a focus area and we look forward to some key initiatives to support it:
Changed PMAY Limits: Raising the value limit of the Pradhan Mantri Awas Yojana (PMAY) housing scheme from 35 lacs to 50 lacs is likely to benefit more homebuyers in North Bangalore.
Interest Support for New Users: First-time homeowners are likely to receive better housing options through special interest supports.
Faster Land Purchase: Simplifying land purchases for low-cost projects will motivate developers such as SSP Group to provide increased-value housing solutions in the market.
3. Infrastructure Development in North Bangalore
The budget promises considerable undertakings to transform real estate growth that we have already witnessed due to infrastructure expansion. To add on, Smart City initiatives will be expanded in Northern Bangalore, thus improving further urban amenities and increasing real estate opportunities. Additionally, with the development of the Peripheral Ring Road, the expansion of metro rail, and the improvements to existing roadways, important areas like Devenahalli, Yelahanka, Hebbal, and Thanisandra will witness significant property appreciation. Other regions are expected to also benefit from the budget grants allocated for the Tier 2 and Tier 3 areas located in North Bangalore. This will enhance investment in real estate outside the heart of the city. At SSP Group, we have positioned ourselves in the primary locations that will benefit from these infrastructure developments which ensures significant value to our investors over time.
4. Sustainability and Green Real Estate
Due to the increasing awareness in environmental conservation, we look forward to budgetary allocations that will promote development towards the environment:
Tax Benefits for Green Buildings: Provides tax credits for the developers involved in eco-friendly projects.
Subsidies for Renewable Energy Integration: Encouragement for the use of Power, Solar, and Energy Efficient Structures, as well as rainwater harvesting.
Mandatory Green Certifications: Promote eco-friendly practices in mega-developments.
At SSP Group, we ensure that all our developments incorporate Green Building concepts so that our residents practice sustainable living in an energy-efficient environment.
5. Enhancing Liquidity and Investment Opportunities
Achieving financial stability will aid in real estate growth and we wish to see the following changes:
Single-Window Clearance System: Approvals for real estate building projects should be issued faster in order to cut delays and expenses.
REITs and FDI Incentives: The North Bangalore area gets additional commercial real estate will expand through the construction of new REITs and increased FDI benefits.
Easier Access to Credit: The development of special funds to address stalled projects and more liberal lending practices for developers will increase market liquidity.
At SSP Group, we aim to develop quality residential and commercial properties which we believe fully meets our investors and market needs.
6. Growth in Rental Housing and Co-Living Spaces
Against the backdrop of a rising working and student demographic in North Bangalore, we anticipate policies embracing rental and co-living units:
Rental Investment Policy Framework: Leasing corporation and individual landlord tax shelters can degenerate the rental market in North Bangalore.
Cohousing and Student Housing Financing: Young IT professionals and students in the educational centers can be served through enhanced cohabitation project financing.
At SSP Group, we are deeply analyzing strategies to widen our rental and co-living portfolio to capitalize on this opportunity.
Conclusion
The Union Budget 2025 could potentially further develop tax reforms, infrastructure, affordable housing, sustainability, and liquidity. North Bangalore’s real estate market is anticipated to improve, and this budget will seek to unlock its potential.
SSP Group has been, and will continue to be, a prominent real estate developer in Bangalore, and will seek to deliver unparalleled projects that home buyers, investors, and businesses need. SSP Group has the most sought-after residential homes, commercial spaces and investment assets in North Bangalore, and keeps delivering unmatched real estate solutions to their clients.
SSP Group delivers innovation and superior standard services, and thus real estate projects that give them a competitive edge over their peers.
Contact SSP Group today to learn more about our recent projects!
