Budget quotes on the real estate sector as below:
Mr. Ashok Singh Jaunapuria - MD and CEO, SS Group
"We applaud the visionary initiatives outlined in the 2024 budget to transform India's housing and urban development landscape. The introduction of the Pradhan Mantri Awas Yojana-Urban 2.0, which pledges to construct 3 crores more homes and allot Rs 10 lakh crores over the course of the next five years, represents a significant attempt to meet the housing demands of middle-class families as well as the urban poor. This initiative not only promises to provide affordable housing but also injects momentum into the cement and construction sectors, fostering economic growth and employment opportunities.Solar energy adoption under PM Suryaghar Muft Bijli Yojana underscores India's commitment to a greener and more inclusive future. We are eager to contribute to these transformative efforts, building communities that prioritize affordability, sustainability, and the well-being of all residents."
Avneesh Sood - Director Eros Group
"The Union Budget 2024 presented by Finance Minister Nirmala Sitharaman is a significant boost for the real estate sector emphasizing urban development as a pillar of 'Viksit Bharat'. The commitment to address the housing needs of one crore urban poor and middle-class families with an investment of Rs10 lakh crore under PM Awas Yojana-Urban is a game-changer. This allocation, with Rs 2.2 lakh crore in central assistance over the next five years, demonstrates the government's serious intent to tackle the urban housing crisis and stimulate economic growth. Establishing industrial parks with a Plug & Play model near 100 cities and the emphasis on rental housing with dormitory-type accommodation for industrial workers in PPP mode with VGF support will further enhance infrastructure and provide affordable housing options. These initiatives will not only invigorate the construction sector but also generate millions of jobs, positively impacting allied industries. Additionally, the focus on urban development and transparent rental markets will benefit both developers and buyers, fostering a more robust and inclusive real estate market.
Mr. S.K Narvar - Group Chairman, Trident Realty
"We welcome the Union Budget 2024-25 presented by Finance Minister Nirmala Sitharaman, which emphasizes substantial capital expenditure of Rs 10 lakh crore. This commitment to infrastructure development is a significant boost for the real estate sector, fostering growth and stability. The focus on enhancing business ease and providing incentives for job creation will not only invigorate the economy but also create a conducive environment for real estate development. As we look ahead, this budget lays a promising foundation for sustainable urban growth, addressing housing needs and driving investments in our communities. We are optimistic that these initiatives will lead to a thriving real estate market, benefitting all stakeholders involved."
Ashish Agarwal - Director, AU Real estate
"We wholeheartedly embrace the Union Budget 2024-25 unveiled by Finance Minister Nirmala Sitharaman, particularly the ambitious allocation for infrastructure development. The proposed investment of Rs 10 lakh crore signals a transformative era for the real estate sector, paving the way for enhanced connectivity and urban expansion. By prioritizing ease of doing business and supporting job creation, this budget fosters an environment ripe for investment and innovation. We believe these strategic initiatives will not only meet the growing demand for housing but also stimulate economic growth, benefiting developers, buyers, and communities alike. Together, we can build a brighter future, turning vision into reality in the vibrant landscape of real estate."