Lincoln Bennet Rodrigues, Chairman & Founder, The Bennet and Bernard Company on the recent budget
The government's strong focus on job creation will also enable the growth of residential real estate across the country.
While the government has not announced any significant policies pertaining to real estate, its commitment towards boosting affordable housing & infrastructure remains intact. Focus on the construction of 80 lakh homes in FY23 under the PM Awas Yojna would definitively enable a huge number of home buyers to go in for property purchase. The increase in infra Capex outlay works well with ambitious plans to enhance urban planning and capacity-building across several mega-cities which will boost the real estate sector.
The government’s strong focus on job creation will also enable the growth of residential real estate across the country. However, we believe that the budget could have provided a stronger impetus for recovery and growth in the real estate sector. We are hoping for more in the coming days, with many of the key concerns still having not been addressed in the Budget. We are hopeful that recommendations from the real estate sector will be addressed as soon as possible. As the sector is one of the biggest contributors to the nation’s GDP, strengthening the sector will also boost the allied economic activities, thereby bringing a positive turnout to the economy as a whole. To sustain the positive outlook of the real estate sector, we are hopeful that the government will usher in various tax benefits and policies in the near future.
