The Indian markets have been rising amid volatility in the run up to Budget 2022. The domestic market benchmarks Nifty50 and the S&P BSE Sensex were trading higher for the fourth straight session on Wednesday. At 1.05 pm, the former breached 18,200-mark and was trading with 134.20 points or 0.74% gain to 18,189.95, while the latter surged nearly 450 points to trade at 61,063.97.  

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Meanwhile, realty space, which has been pegged to do well in the current year, has been outperforming too on Wednesday.  

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The BSE Realty Index surged over 2% to breach 4,000-mark as the realty index touched day's high of 4,083.81 on Wednesday.  

Dhaval Ajmera, Director of Ajmera Realty and Infra India Ltd, said both residential and commercial asset classes have scripted a turnaround story in the second half of the year 2021 as far as real estate sector is concerned.  

The year 2022 is expected to set a new benchmark where all the stakeholders of the real estate industry will collaborate to harness latent demand for homes, he said.  

Ram Raheja, Director at S Raheja Realty, said with low home loan rates, stamp duty cuts, premium cuts, it is lucrative to be associated with the sector as both sellers and buyers 

Research reports suggest that outlook for this sector remain bullish. Strong fundamentals and expectation of further rise in demand are instrumental for the month-high and upside in the BSE Realty Index, he added.  

"The deal street of the Indian real estate is expected to be active both on value and volume aspects. With macro fundamentals in check for the realty estate industry will keep the index on the upward trend in the medium to long term," said Dhaval Ajmera.  

Varun Mohan, Founder & CEO, Definite, says the Government of India’s Digital India scheme and the Real Estate (Regulation and Development) Act (RERA), 2016, played crucial role in lifting the sentiment for this space.  

What real estate sector expects from the Budget 2022?  

 As pandemic has affected all sectors, including the real estate, Varun Mohan says investors expectation reductions in GST and an increase in home loan interest for this sector.  

"It is globally the most recognized sector and generates the second-highest employment in the country. Retail, hospitality, and commercial real estate are growing significantly, delivering the much-needed infrastructure for India's growing need," said Varun.  

He said steps must also be taken to make the industry more technologically-driven.