Budget 2026 Watch Homebuyers Seek Higher Tax Relief on Home Loan Interest
As the Finance Minister prepares to present Budget 2026 on February 1, homebuyers and personal finance experts are calling for measures to improve housing affordability amid rising property prices and borrowing costs. A key demand is raising the home loan interest deduction limit under Section 24 from the current ₹2 lakh to ₹4–6 lakh, which experts say no longer reflects present market realities. With residential prices increasing steadily since 2014, buyers are stretching budgets, and a higher deduction could improve monthly cash flows, lower effective borrowing costs, and support first-time homebuyers entering the housing market.
Experts have also suggested raising the affordable housing price cap from ₹50 lakh to ₹75–85 lakh to align with current construction and land costs, especially in metro cities. Affordable housing sales have fallen sharply, with the segment’s share dropping from 54 percent in 2018 to 21 percent in 2025. Proposals include interest subvention for first-time buyers, rental income tax relief for lower-priced homes, and relaxed timelines under capital gains exemption rules for under-construction properties. These measures, experts say, could address affordability constraints, expand formal credit access, and provide balanced support across ownership and rental housing segments.
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