23-07-2024 02:28 PM | Source: Vestian
Budget Reaction on Real Estate by Shrinivas Rao, FRICS, CEO, Vestian
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Below the Budget Reaction on Real Estate by Shrinivas Rao, FRICS, CEO, Vestian
budget continued its focus on infrastructure development and provided impetus to employment generation with an aim to bridge the skill gap and boost the Indian economy.”
Mr. Rao added, “The budget witnessed several announcements which may boost demand for real estate assets - A budget allocation of INR 10 lakh crore to develop one crore urban houses under PMAY, improved transparency in rental housing markets, digitization of land records, and reduction in stamp duty. Additionally, sustainability gained momentum through the government’s push for clean energy, which may also be reflected in the real estate sector. All in all, the focus on infrastructure development will directly or indirectly have a positive impact on the real estate sector too.”
Mr. Rao added, “The budget witnessed several announcements which may boost demand for real estate assets - A budget allocation of INR 10 lakh crore to develop one crore urban houses under PMAY, improved transparency in rental housing markets, digitization of land records, and reduction in stamp duty. Additionally, sustainability gained momentum through the government’s push for clean energy, which may also be reflected in the real estate sector. All in all, the focus on infrastructure development will directly or indirectly have a positive impact on the real estate sector too.”
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