Budget reaction from Mr. Amit Bhagat, CEO & MD, ASK Property Investment Advisors

New Delhi, February 02, 2022: This is a budget laying the foundation for decades. The overall focus on infrastructure development is a boost for the entire economy including real estate. The development of highways, industrial & logistics parks and enhanced connectivity across are likely to have a multiplier effect on the economy and especially on the real estate surrounding these developments. Infrastructure status for data centres & energy storage will catapult growth into a new trajectory. Digitisation of land records will go a long way in increasing confidence of buyers including investors.

The government has allocated Rs 48,000 crore for the credit linked subsidy scheme (PMAY) for home buyers. This has been greatly beneficial for first time buyers and the residential sector in the past and the extension is a much welcome move. The SEZ Act along with growth in the IT sector had catalysed the development of the commercial real estate sector during the last decade and new SEZ changes are keenly awaited.

If 50% of the country’s population has to be in urban centres by 2030 then planned, sustainable and connected urban centres will provide a more holistic growth with better quality of life leading to unhindered growth of real estate for decades.

Corporate Comm India (CCI Newswire)