The real estate industry in India is anticipating positive measures in the upcoming Union Budget 2024 to bolster the affordable housing sector facing inflationary pressures. Hopes are centered on Finance Minister Nirmala Sitharaman announcing supportive measures, with a key focus on increasing the deduction for home loans under section 24. Industry leaders believe that raising the tax deduction limit on home loans from ₹2 lakh to ₹5 lakh could revive the budget housing segment, which has experienced a decline in demand. The industry outlook for 2024 is positive, contingent on the results of the upcoming general elections and the need to extend benefits for affordable housing development.