Real Estate Revival: Budget 2024 Brings New Hope for Housing and Infrastructure
The recent budget announcements have brought a renewed focus on the real estate and infrastructure sector, addressing key areas such as industrial parks, housing for urban poor, and the redevelopment of cities.
Real EstateHousingBudget 2024InfrastructureAffordable HousingReal EstateJul 23, 2024
Anshuman Magazine, Chairman & CEO - India, CBRE, highlighted the emphasis on industrial corridors, urban housing, and the redevelopment of cities. The announcement of PM Awas Yojana (PMAY) 2.0 aims to meet the housing needs of one crore urban poor and middle-class families, a significant step towards ensuring housing for all. Additionally, the anticipated revision of stamp duties across states is expected to make property registration more affordable, particularly benefiting women.
Pradeep Aggarwal, Founder & Chairman, Signature Global (India) Ltd, praised the budget as \
Frequently Asked Questions
What is the aim of PM Awas Yojana (PMAY) 2.0?
The aim of PM Awas Yojana (PMAY) 2.0 is to meet the housing needs of one crore urban poor and middle-class families.
What is the significance of the allocation of ₹10 lakh crore under the PMAY urban scheme?
The allocation of ₹10 lakh crore under the PMAY urban scheme is significant as it targets 3 crore houses, underscoring a robust vision for urban development.
How will the revision of stamp duties across states benefit women?
The revision of stamp duties across states is expected to make property registration more affordable, particularly benefiting women.
What is the focus of the budget on infrastructure development?
The focus of the budget on infrastructure development is on setting up industrial parks and vegetable supply chains near urban consumption centers, which is expected to bolster the manufacturing sector.
How will the development of industrial parks and corridors impact the real estate sector?
The development of industrial parks and corridors is expected to provide ample opportunities for real estate stakeholders, driving construction in both urban and rural areas.
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