What to Expect from Budget 2024: Real Estate and Beyond
As the Union Budget 2024-25 approaches, experts weigh in on what to expect for the real estate sector and the economy as a whole.
Budget 2024Real EstateEconomyNirmala SitharamanUnion BudgetReal EstateJul 16, 2024
According to Kaushal Agarwal, Chairman of The Guardians Real Estate Advisory, the Budget is expected to bring about significant reforms in real estate development across the country. 'The Budget is likely to introduce measures to boost the real estate sector, including initiatives to promote affordable housing and simplify the process of buying and selling properties,' he says.
The Union Budget 2024-25 will be the seventh Budget presented by Nirmala Sitharaman, and it is expected to focus on stimulating economic growth, creating jobs, and promoting infrastructure development. The Budget will be presented in a paperless format, with all budget documents accessible via the 'Union Budget Mobile App' for easy access.
In the run-up to the Budget, there are high expectations from various industries, including real estate, manufacturing, and technology. Experts believe that the Budget will need to address the challenges faced by these industries, including high production costs, lack of skilled labor, and cumbersome regulations.
In terms of real estate, the industry is hoping for measures to reduce the cost of borrowing, simplify the process of obtaining construction permits, and incentivize the development of affordable housing. Additionally, there are expectations that the Budget will provide a boost to the construction sector, which has been a key driver of economic growth.
As the country waits with bated breath for the Budget, one thing is clear - it will need to address the pressing issues facing the economy and provide a roadmap for sustainable growth. Stay tuned for live updates and expert analysis of Budget 2024-25.
Information
The Union Budget is an annual budget presented by the Government of India, outlining its revenue and expenditure plans for the upcoming financial year. It is usually presented in the Lok Sabha, the lower house of the Indian Parliament, by the Finance Minister of India.
The Guardians Real Estate Advisory is a leading real estate consultancy firm, providing expert advice to developers, investors, and homebuyers. With a team of experienced professionals, the firm has established itself as a trusted name in the industry.
Frequently Asked Questions
When is the Union Budget 2024-25 expected to be presented?
The Union Budget 2024-25 is expected to be presented on July 23.
What is the significance of the 'halwa' ceremony?
The 'halwa' ceremony marks the final stage of preparation for the Union Budget. It is a traditional ceremony where the finance minister serves the traditional dessert 'halwa' to the officials and staff of the finance ministry involved in the budget's preparation.
What are the expectations from the real estate sector in Budget 2024-25?
The real estate sector is hoping for measures to reduce the cost of borrowing, simplify the process of obtaining construction permits, and incentivize the development of affordable housing.
What is the focus of the Union Budget 2024-25?
The Union Budget 2024-25 is expected to focus on stimulating economic growth, creating jobs, and promoting infrastructure development.
How can I access the budget documents?
All budget documents, including the Annual Financial Statement, Demand for Grants, and Finance Bill, will be accessible via the 'Union Budget Mobile App' for easy access.
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