The Union Budget 2024-25 has been met with widespread acclaim from leaders in the real estate sector. They commend the government’s forward-thinking approach, highlighted by substantial allocations for infrastructure and housing development. The focus on ‘Viksit Bharat’ aims to bridge the urban-rural divide and make property more accessible, especially for women. With significant reductions in stamp duties and investments in industrial parks, the budget is poised to stimulate real estate transactions, boost home ownership, and attract investment. The commitment to sustainable development and urban expansion signals a transformative era for the industry, promising growth and opportunity nationwide.
Real Estate experts are united in their praise for the Union Budget 2024-25, which is set to transform the real estate sector with ambitious infrastructure and housing investments.
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Mr. Santosh Agarwal, CFO and Executive Director of Alphacorp
We applaud the government for its forward-thinking budget proposals, which hold significant promise for the real estate sector. The emphasis on ‘Viksit Bharat’ as a theme for this year is particularly commendable as it aims to bridge the urban-rural divide and ensure inclusive development across regions. Lower stamp duties aim to make property more affordable for women, boosting home ownership and stimulating real estate transactions. This reduction in costs is expected to encourage more women and families to take benefit of the savings. Furthermore, investment-ready ‘plug and play’ industrial parks will be developed in or near 100 cities, with 12 parks already sanctioned under the National Industrial Corridor Development Programme. These initiatives are poised to bolster industrial growth, attract investments, and boost local economies across the nation.
Mr. Manish Jaiswal, Group COO of Eldeco Group
we appreciate the government’s progressive budget plans, which promise to positively impact the real estate market, The recent budget unveils a forward-thinking approach that promises substantial growth for the real estate sector. The reduction in stamp duties is a noteworthy step towards making property more accessible, particularly for women, which is expected to boost home ownership and invigorate real estate transactions. The expansion of the Pradhan Mantri Awas Yojana (PMAY) with the creation of 3 crore additional homes and an investment of Rs 10 lakh crores is a significant boost, enhancing housing availability and supporting the cement industry. The Rs 2.2 lakh crore allocated for urban housing over the next five years, along with initiatives for rental housing and transit-oriented development, will further enhance affordability and infrastructure. These measures, coupled with the development of industrial parks, are set to attract investment and drive economic growth across the nation.
Mr. Yashank Wason, Managing Director, Royal Green Realty
The budget for this year is one that exemplifies the government’s push towards infrastructure development. We welcome the government’s decision to construct Plug and Play Industrial Parks across 100 Indian cities and 12 Industrial Parks under the Industrial Corridor Scheme. As we embark on the journey to achieve a 5 trillion economy, Royal Green Realty stands ready to play its part in building the future of a brighter India with our steadfast commitment towards developing an Industrial Park in Haryana. This project will be a benchmark in eco-friendly sustainable development and become a blueprint for other leading developers to emulate in the near perceivable future. Additionally, Royal Green Realty is dedicated to addressing the housing needs of the urban middle class by focusing on affordable housing projects, ensuring that quality homes are within reach for more families and contributing to the overall vision of inclusive growth and prosperity.
Mr. Ashish Agarwal, Director, AU Real estate
We wholeheartedly embrace the Union Budget 2024-25 unveiled by Finance Minister Nirmala Sitharaman, particularly the ambitious allocation for infrastructure development. The proposed investment of Rs 10 lakh crore signals a transformative era for the real estate sector, paving the way for enhanced connectivity and urban expansion. By prioritizing ease of doing business and supporting job creation, this budget fosters an environment ripe for investment and innovation. We believe these strategic initiatives will not only meet the growing demand for housing but also stimulate economic growth, benefiting developers, buyers, and communities alike. Together, we can build a brighter future, turning vision into reality in the vibrant landscape of real estate
Mr. S.K Narvar, Group Chairman, Trident Realty
We welcome the Union Budget 2024-25 presented by Finance Minister Nirmala Sitharaman, which emphasizes substantial capital expenditure of Rs 10 lakh crore. This commitment to infrastructure development is a significant boost for the real estate sector, fostering growth and stability. The focus on enhancing business ease and providing incentives for job creation will not only invigorate the economy but also create a conducive environment for real estate development. As we look ahead, this budget lays a promising foundation for sustainable urban growth, addressing housing needs and driving investments in our communities. We are optimistic that these initiatives will lead to a thriving real estate market, benefitting all stakeholders involved.
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Mr. Aman Sharma, Managing Director of Aarize Group
We appreciate the government’s progressive budget plans, which promise to positively impact the real estate market. The budget presented today marks a pivotal moment for the real estate sector, with substantial allocations to infrastructure and housing development. The ₹11,11,111 crore capital expenditure plan is a game-changer, promising to boost connectivity and urban expansion. Additionally, the provision of ₹1.5 lakh crore in interest-free loans for state governments will catalyze infrastructure investments and facilitate smoother execution of projects. This translates into enhanced opportunities for growth and development. The government’s focus on sustainable infrastructure and urban development signals a positive shift, creating a favorable environment for real estate growth and investment.
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