Pre Budget Expectations Quote on behalf of Mr. Kalyan Chakrabarti, CEO, Emaar India

“A positive and development centric interim budget highlighting commitment to infrastructure as a key driver of economic growth, coupled with the emphasis on modernization and indigenization, laid the foundations for fostering growth and resilience in the economy. The interim budget laid a roadmap for sustainable development by 2047 with the theme of ‘Viksit Bharat’. As we await the upcoming union budget, we are optimistic that it shall be akin to the interim budget auguring growth and development. We continue to seek an industry status for the real estate sector, which would represent a significant stride on the infrastructure front by the government. This move would enable developers to lower borrowing costs and pass on the benefits to the customers. As key stakeholders in the sector, one of our primary expectations is a reduction on GST rates on construction materials to enhance affordability and make home-buying more accessible. We expect policies that will promote financial inclusivity and incentivisation, such as reforms in taxation and financial accessibility. Additionally, optimising the process of land acquisition and registration of properties to make it more transparent and efficient, further encouraging development and investment in the sector. We are hopeful that the budget will positively contribute to the real estate sector’s mission of inclusive growth, sustainable development, and job creation in the coming years.”