Post Budget Reaction from Real Estate Sector.

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New Delhi, Delhi, 23rd of July, 2024 : Mr. Pradeep Aggarwal, Founder & Chairman, Signature Global (India) Ltd :

This budget can be termed as prudent and holistic in each aspect the government’s decision to allocate ₹10 lakh crore under the PMAY Urban Scheme, targeting 3 crore houses and key focus on rationalising stamp duty for Home buyers especially for women, underscores a robust vision for urban development and will help homebuyers would save the significant amounts, making home ownership more accessible.

At macro level sustained infrastructure impetus, reflected in the ₹11.11 lakh crore Capex allocation, we anticipate all these would create a multiplier impact and significant boost in the overall housing sector.

Additionally, a focus on rental housing in industrial parks via the PPP model, digitizing land records in cities will greatly improve transparency and ease property transactions.

Mr. Mohit Jain, Managing Director, Krisumi Corporation

Urban centers, being the drivers of growth, saw major allocation and attention in the Union Budget 2024.

More homes under PMAY (U), transit development, creative redevelopment of cities, industrial parks, rental housing for industrial workers, digitization of land records, development of industrial parks and call for moderation in stamp duty, particularly for women buyers are some of the measures that will usher Indian cities towards the path of modernization, enhancing livability and enabling them as growth and employment centers. The real estate sector, as partners in this development, will play a major role in contributing towards the government’s urban vision. The increase in Standard Deduction of Rs 25,000 to Rs 75,000 will be a sentiment booster for the sector, which is on a high and expected to perform well in the near future.