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Below the Quote on Post-budget Reaction by Mr Amit Goyal, Managing Director, India Sotheby's International Realty

The Finance Minister's Budget 2024 speech was both positive and encouraging, shedding light on the reasons behind economic growth, including the robust demand in the real estate sector, particularly in the high-end and luxury segments. The government's focus on affordable housing, with the announcement of a special scheme for those living on rent, is anticipated to contribute to the overall growth of the real estate sector.

The proposed scheme will contribute to more housing developments in the country, boosting the real estate landscape to newer heights. Moreover, with new financing and entrepreneur-friendly policies, India will witness more people becoming high-net-worth individuals, hence more likely to invest in real estate.

The FM articulated that people are experiencing improved living standards and enhanced earnings, coupled with heightened aspirations for the future. She also mentioned that the average real income of individuals has witnessed a substantial increase of fifty per cent, and inflation has remained moderate.

People have been empowered to pursue their real estate aspirations through the effective and timely delivery of programs and large-scale projects. The FM expressed optimism, anticipating the continuation of this trend, projecting the next five years to be a period of unprecedented development in India.

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