budget 2024: Realtors on Thursday lauded the Budget proposal to launch a scheme to help middle class people buy or build their own homes, saying it will increase demand for residential properties and help in the overall growth of the real estate sector. In the interim Budget 2024-25, Finance Minister Nirmala Sitharaman announced that the government will launch a scheme to help ‘eligible sections of the middle class living in rented houses, slums, chawls and unauthorized colonies’ to buy or build their own houses. Will start. Houses.
He also said that under the ongoing PM Awas, 2 crore more houses will be built for the rural poor in the next five years. Plan (Rural).
Commenting on the budget proposals, credai President Boman Irani said these initiatives are “encouraging and will aid development Accommodation market”.
Read this also Realtors applaud increase in PMAY allocation in Budget; Regret over absence of immediate ‘booster shots’
sustained focus on basic infrastructure He said the development will further boost growth in the housing sector.
Irani said, with tax rates remaining unchanged, there will be no extra money in the pockets of the common man, which may hinder the spending ability of taxpayers.
There has been a strong surge in housing sales after the Covid-19 pandemic. Sales have been very strong across all price points over the past two calendar years.
NAREDCO Chairman G Hari Babu said, the government’s commitment to housing development through Pradhan Mantri Awas Yojana-Rural is praiseworthy.
“Also, the reiteration of a new scheme for the urban middle class population will boost the confidence of both the common man and the real estate sector. We are now waiting for a clear roadmap of this scheme,” he said.
Venkatesh Gopalakrishnan, MD and CEO of Shapoorji Pallonji Real Estate, acknowledged the government’s efforts but sought “targeted measures in the upcoming Union Budget to unlock the full potential of the sector”.
He sought to increase the deduction on interest on home loans from Rs 2 lakh to Rs 5 lakh per annum to encourage home buyers and boost industry revenue.
Sanjay Dutt, MD & CEO, Tata Realty & Infrastructure Ltd: “As it is said, sometimes no news is even good news! Expectations are always high and perhaps this is the first budget of the current government when special for real Nothing has been formally declared as estate area”.
“The high points remain on increased capital expenditure and emphasis on affordable housing, I am optimistic and look forward to Budget 2024-25 for the bigger picture in the coming months.”
Gaurav Pandey, MD and CEO, Godrej Properties, said strong urban and sustainable development measures will have a positive impact on the domestic real estate scenario in the long run.
“Diverse housing needs across all income groups has been a priority for the government,” said Kalyan Chakraborty, CEO, Emaar India.
He said, the proposed housing scheme will not only support the humble middle class but will also promote improvement in social indices like health and sanitation, safety and security etc. while encouraging economic growth through increase in home ownership.
Manoj Gaur, CMD of Gaurs Group, among NCR developers, said the new scheme for the middle class will benefit the real estate sector. Yash Miglani, MD, Migson Group, said the focus on infrastructure development will help the real estate sector.
Mohit Jain, MD, Krisumi Corporation, said the launch of a new housing scheme specifically focused on the middle class is a good sign for the housing sector. “This is likely to increase demand for mid and affordable segment homes.”
Ratan Havelia, founder and chairman of Noida-based Havelia Group, said, “The need for bigger homes is for middle-income citizens and there is a shortage of affordable homes across the country.”
He said, “This has been a disappointing budget for the housing sector as there have been no notable announcements for the introduction of support schemes or home loan interest reduction benefits, which generally act as stimulants for home buying. Does.”
Among property consultants, Housing.com CEO Dhruv Aggarwal said the soon-to-be-launched housing scheme for the middle class is set to provide a significant boost to the housing sector in a country where an increasing number of people are entering this income bracket. Have been. each day.
Anarock Chairman Anuj Puri said, “As expected, the interim Budget did not make any major announcements, but it continued its focus on upgrading infrastructure and building connectivity across the country. “Will benefit real estate development in Tier 2 and 3 cities across the country”.
He said the housing scheme for the middle class is likely to free up encroachment areas like slums for easy redevelopment.
Piyush Bothra, Co-Founder and CFO, Square Yards, said the government’s announcement regarding the construction of an additional 20 million houses under the Pradhan Mantri Awas Yojana-Gramin (PMAY) reflects its commitment to promote inclusivity and ensure adequate housing for all. Underlines.
Furthermore, he said that the resolution to launch a housing scheme for the middle class will help in fulfilling their dreams.
Knight Frank India CMD Shishir Baijal said the proposal to boost housing for the middle class living in substandard housing is a welcome inclusion. “We look forward to the details of this as we expect it will have long-term implications.”
Vestian CEO Srinivas Rao said the 11.1 per cent increase in infrastructure outlay to Rs 11.11 lakh crore will indirectly boost growth in the real estate sector.
Amit Mishra, co-founder, 91SquareFeet, said the announcement of building 2 crore more houses under the PM Awas Yojana has ushered in a new era of growth, which will benefit not only real estate developers but also financial institutions.
Inframantra founder Shivang Suraj said the announcement related to the middle class will boost housing demand.
He also said that under the ongoing PM Awas, 2 crore more houses will be built for the rural poor in the next five years. Plan (Rural).
Commenting on the budget proposals, credai President Boman Irani said these initiatives are “encouraging and will aid development Accommodation market”.
Read this also Realtors applaud increase in PMAY allocation in Budget; Regret over absence of immediate ‘booster shots’
sustained focus on basic infrastructure He said the development will further boost growth in the housing sector.
Irani said, with tax rates remaining unchanged, there will be no extra money in the pockets of the common man, which may hinder the spending ability of taxpayers.
There has been a strong surge in housing sales after the Covid-19 pandemic. Sales have been very strong across all price points over the past two calendar years.
NAREDCO Chairman G Hari Babu said, the government’s commitment to housing development through Pradhan Mantri Awas Yojana-Rural is praiseworthy.
“Also, the reiteration of a new scheme for the urban middle class population will boost the confidence of both the common man and the real estate sector. We are now waiting for a clear roadmap of this scheme,” he said.
Venkatesh Gopalakrishnan, MD and CEO of Shapoorji Pallonji Real Estate, acknowledged the government’s efforts but sought “targeted measures in the upcoming Union Budget to unlock the full potential of the sector”.
He sought to increase the deduction on interest on home loans from Rs 2 lakh to Rs 5 lakh per annum to encourage home buyers and boost industry revenue.
Sanjay Dutt, MD & CEO, Tata Realty & Infrastructure Ltd: “As it is said, sometimes no news is even good news! Expectations are always high and perhaps this is the first budget of the current government when special for real Nothing has been formally declared as estate area”.
“The high points remain on increased capital expenditure and emphasis on affordable housing, I am optimistic and look forward to Budget 2024-25 for the bigger picture in the coming months.”
Gaurav Pandey, MD and CEO, Godrej Properties, said strong urban and sustainable development measures will have a positive impact on the domestic real estate scenario in the long run.
“Diverse housing needs across all income groups has been a priority for the government,” said Kalyan Chakraborty, CEO, Emaar India.
He said, the proposed housing scheme will not only support the humble middle class but will also promote improvement in social indices like health and sanitation, safety and security etc. while encouraging economic growth through increase in home ownership.
Manoj Gaur, CMD of Gaurs Group, among NCR developers, said the new scheme for the middle class will benefit the real estate sector. Yash Miglani, MD, Migson Group, said the focus on infrastructure development will help the real estate sector.
Mohit Jain, MD, Krisumi Corporation, said the launch of a new housing scheme specifically focused on the middle class is a good sign for the housing sector. “This is likely to increase demand for mid and affordable segment homes.”
Ratan Havelia, founder and chairman of Noida-based Havelia Group, said, “The need for bigger homes is for middle-income citizens and there is a shortage of affordable homes across the country.”
He said, “This has been a disappointing budget for the housing sector as there have been no notable announcements for the introduction of support schemes or home loan interest reduction benefits, which generally act as stimulants for home buying. Does.”
Among property consultants, Housing.com CEO Dhruv Aggarwal said the soon-to-be-launched housing scheme for the middle class is set to provide a significant boost to the housing sector in a country where an increasing number of people are entering this income bracket. Have been. each day.
Anarock Chairman Anuj Puri said, “As expected, the interim Budget did not make any major announcements, but it continued its focus on upgrading infrastructure and building connectivity across the country. “Will benefit real estate development in Tier 2 and 3 cities across the country”.
He said the housing scheme for the middle class is likely to free up encroachment areas like slums for easy redevelopment.
Piyush Bothra, Co-Founder and CFO, Square Yards, said the government’s announcement regarding the construction of an additional 20 million houses under the Pradhan Mantri Awas Yojana-Gramin (PMAY) reflects its commitment to promote inclusivity and ensure adequate housing for all. Underlines.
Furthermore, he said that the resolution to launch a housing scheme for the middle class will help in fulfilling their dreams.
Knight Frank India CMD Shishir Baijal said the proposal to boost housing for the middle class living in substandard housing is a welcome inclusion. “We look forward to the details of this as we expect it will have long-term implications.”
Vestian CEO Srinivas Rao said the 11.1 per cent increase in infrastructure outlay to Rs 11.11 lakh crore will indirectly boost growth in the real estate sector.
Amit Mishra, co-founder, 91SquareFeet, said the announcement of building 2 crore more houses under the PM Awas Yojana has ushered in a new era of growth, which will benefit not only real estate developers but also financial institutions.
Inframantra founder Shivang Suraj said the announcement related to the middle class will boost housing demand.