Boosting Affordable Housing: A Key Expectation from the Upcoming Union Budget
The real estate sector has high hopes from the Modi 3.0 regime as the Union Budget for 2024-25 approaches, with a focus on affordable housing being a top priority.
Union BudgetAffordable HousingReal EstateAnarockModi 30 RegimeReal Estate NewsJul 14, 2024
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Anarock has been at the forefront of the Indian real estate industry, providing expert insights and consultancy services to stakeholders. With a strong presence in the market, the firm has been a vocal advocate for policy reforms that can stimulate growth and development in the sector.
Anarock is a leading real estate consultancy firm in India, offering a range of services including residential, commercial, and retail consultancy. The firm has a strong track record of providing expert insights and consultancy services to stakeholders, including developers, investors, and homebuyers.
With the Indian economy still reeling from the impact of the COVID-19 pandemic, the real estate sector has been hit particularly hard. The affordable housing segment, which is critical to addressing the country's housing shortage, has been severely affected by the lack of affordable financing options, high construction costs, and limited availability of developable land.
In this context, Anarock is stressing the need for the Centre to focus on the affordable housing segment in the upcoming Budget. The firm believes that a concerted effort to address the issues plaguing this segment can have a direct impact on the overall health of the economy.
Some of the key measures that Anarock is advocating for include
Increased allocation of funds for affordable housing schemes
Tax incentives for developers and homebuyers
Relaxation of norms for affordable housing projects
Fast-tracking of approvals for affordable housing projects
By implementing these measures, the Centre can help stimulate growth in the affordable housing segment, which can have a ripple effect on the overall economy. The increased demand for affordable housing can lead to job creation, increased economic activity, and a boost to the country's GDP.
Moreover, a focus on affordable housing can also help address the country's housing shortage, which is estimated to be around 10 million units. By providing more affordable housing options, the government can help reduce the housing shortage, which can have a direct impact on the quality of life of citizens.
In conclusion, the upcoming Union Budget presents an opportunity for the Centre to address the long-standing issues plaguing the real estate sector, particularly the affordable housing segment. By implementing measures that can stimulate growth and development in this segment, the government can help boost the economy, address the housing shortage, and improve the quality of life of citizens.
Frequently Asked Questions
What is the key expectation from the upcoming Union Budget for the real estate sector?
The key expectation is for the Centre to focus on the affordable housing segment and address the issues plaguing this critical sector.
What is the current state of the affordable housing segment in India?
The affordable housing segment is facing challenges due to the lack of affordable financing options, high construction costs, and limited availability of developable land.
What measures is Anarock advocating for in the upcoming Budget?
Anarock is advocating for increased allocation of funds for affordable housing schemes, tax incentives for developers and homebuyers, relaxation of norms for affordable housing projects, and fast-tracking of approvals for affordable housing projects.
How can a focus on affordable housing benefit the economy?
A focus on affordable housing can lead to job creation, increased economic activity, and a boost to the country's GDP.
What is the estimated housing shortage in India?
The estimated housing shortage in India is around 10 million units.
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