Ajay Chaudhary, CMD, Ace Group said “In this interim Union Budget, we find notable provisions that resonate with the aspirations of the middle-class homebuyers. The proposal to empower them with avenues to build their own homes, whether in rented accommodations, chawls, or unauthorised colonies, marks a significant stride towards inclusive prosperity. Equally commendable is the budget’s emphasis on bolstering infrastructure development, with a remarkable increase in allocation by over 10 per cent, reaching approximately Rs. 11 lakh crore. This surge in investment promises a robust multiplier effect, igniting economic growth engines and paving the way for substantial employment opportunities. Moreover, it stands poised to catalyze housing demand among our burgeoning urban youth population.”
Arjunpreet Singh Sahni, Executive Director, Solitaire Group said The budget’s provisions for affordable housing and infrastructure development align with industry expectations. However, granting Industry Status to the real estate sector, a long-awaited demand could have further stimulated growth. While we appreciate the measures taken in this budget, we believe that more can be done to provide a significant impetus to the real estate sector with additional incentives and policy support for developers and homebuyers. We look forward to the effective implementation of the measures outlined in the budget and hope to see positive outcomes percolate to all stakeholders of the real estate sector.”
Rohit Gupta, CEO, Mantra
“We applaud the visionary approach of the government reflected in Union Budget 2024-25 announcement. The emphasis on Awas Yojana Grameen, particularly the commitment to achieving 3 crore houses and empowering women with significant ownership in rural areas, aligns seamlessly with our industry’s mission for inclusive and sustainable development. The introduction of a scheme supporting middle-class home ownership and the substantial allocation of Rs 11.11 lakh crores for infrastructure in FY25 underscore the government’s understanding of the important role played by the real estate sector in our nation’s growth. This collaborative and forward-thinking budget sets a positive tone for our industry, adopting an environment of optimism, innovation, and shared prosperity. We look forward to contributing actively to the nation’s progress and development under the supportive policies laid out by the government.”
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