India's luxury housing market has recorded nearly 40% price appreciation since 2022, significantly outpacing the 26% growth in affordable housing, triggering a major shift in investor and developer focus towards premium properties.

India's luxury real estate sector had a surge of high-priced transactions in 2022. Many of these luxury real estate transactions included the reinvestment of capital gains in order to avoid paying the Capital Gains Tax.

According to major real estate specialists in the Mumbai real estate business, the Maharashtra Budget 2022's infrastructure push was long overdue for a state aspiring to become a USD1 trillion economy.

It is definitely not a secret that the real estate industry in India has gone through a lot of stress in the recent past and is still in the midst of a recovery. It does require all the support that it can and this budget could be a turning point.