Bhubaneswar (Odisha Tazanews) :– CREDAI Odisha, the apex body representing real estate developers in the state, has outlined key expectations and policy recommendations ahead of the Union Budget 2026–27, aimed at strengthening the housing sector, improving affordability, and accelerating sustainable urban growth in Odisha.
Speaking on the occasion, Mr. Swadesh Kumar Routray, Vice President, CREDAI National & President, CREDAI Odisha, emphasised the need for progressive policy interventions that support both homebuyers and developers while contributing to overall economic growth.
“The real estate sector plays a crucial role in employment generation and urban infrastructure development . A supportive Union Budget can further strengthen housing demand, improve affordability, and enable planned development across cities and towns of Odisha,” Mr. Routray stated.
Key Expectations from Union Budget 2026–27
Revision of Affordable Housing Definition :-
With land and construction costs witnessing a significant rise over the years, CREDAI Odisha has urged the Government to revise the definition of affordable housing by enhancing carpet area and price limits. This revision will encourage increased housing supply and enable a larger section of homebuyers to benefit from government incentives.
Incentive for Affordable Housing :-
CREDAI Odisha has highlighted the importance of providing a 100% tax deduction on profits derived from the development of affordable housing projects. The association has urged the Government to continue and strengthen this incentive, as it plays a vital role in promoting the Housing for All initiative and encouraging developers to actively participate in affordable housing development.
Enhanced Tax Relief for Homebuyers :-
The association has recommended increasing the home loan interest deduction limit beyond the current ₹2 lakh to better reflect prevailing housing costs. This measure will ease the financial burden on homebuyers and help stimulate housing demand, particularly in emerging urban centres.
Rationalisation of Taxes & Input Costs :-
CREDAI Odisha has also called for rationalisation of GST on construction materials and under-construction properties. Reducing input costs will help lower overall project expenses and translate into more affordable housing for end consumers.
Strengthening Odisha’s Growth Momentum :-
CREDAI Odisha reaffirmed its commitment to working closely with both the Central and State Governments to promote transparent, sustainable, and inclusive real estate development, contributing significantly to Odisha’s urban growth and infrastructure expansion.
