The Union Budget for 2023-24 has been presented by Finance Minister Nirmala Sitharaman in Parliament on 1st February. Every year, the Budget has something new for each industry which makes everyone quite curious about it. Likewise, this year, from a real estate perspective, no such giant changes were announced.
Let’s take a look at the statements made by some big real estate Industrialists on Budget 2023.
The PMAY plan has seen a considerable boost in funding, with the outlay rising from 66% to Rs 79,000 crore. According to Arpit Mehrotra, MD, office services, south India & head of flex | India, Colliers, this increase in funding will probably assist the government to accomplish its goal of providing affordable housing to more people and contribute to the overall growth and development of the country.
“The Budget session represents the continuation of GOI’s overall commitment towards infrastructural growth, stimulated urbanisation, and affordable housing projects. The real estate sector will benefit from this since it will create a stage for greater growth and demand. Moreover, the government has increased funding for the PM Awas Yojna, which will aid in the effort to provide housing for everyone in India.” stated Subhash Goel, Director of Goel Ganga Developments.
Vice Chairman of NAREDCO, Niranjan Hiranandani stated “This budget is fair and balanced, and it will help encourage economic expansion. The renewed focus on infrastructure investment will boost our economy’s productivity and create jobs. The emphasis on research in areas like 5G services, AI, and agriculture will also help to increase our competitiveness in the global economy.”
“As we move into “Amrit Kaal,” the budget announced by Finance Minister Nirmala Sitharaman provides a road plan for the comprehensive growth of the country. It positions India as the decade’s Startup Nation,” said Anil G. Verma, CEO of Godrej & Boyce and executive director.
