Bhushan Nemlekar – Director, Sumit Woods Limited views on the recent budget

”The real estate sector had high hopes from the Budget 2022. Although the focus of the Union Budget 2022 was on overall economic development, the only thing to cheer for the real estate industry was the budget allocation of Rs 48,000 crore for the PM Awas Yojna. In urban and rural areas, 80 lakh houses will be constructed for identified beneficiaries for affordable housing under the PM Awas Yojana and 60,000 houses will be identified as beneficiaries. Also the Government has given a lot of importance on urban planning by showing it’s desire to set up a high-level committee for urban planners and economists. This will lay a foundation for Tier 2 & Tier 3 cities to transform into centres of economic growth.  It is undoubtedly a progressive budget especially with its emphasis on building infrastructure for the country.”