‘Positive for the economy; affordable housing gets a boost’

‘Positive for the economy; affordable housing gets a boost’

A positive Budget Speech by the Hon’ble Finance Minister, best described as ‘balanced and pro-growth’, has a major positive for real estate comes in form of enhanced outlay for PM Awaas Yojana by 66 percent to over Rs. 79,000 crores, said Dinesh Doshi, President, NAREDCO Progressive Neral Karjat. Gautam Thacker, Chairman, NAREDCO Progressive Neral Karjat said this will ensure the push to develop Affordable Housing. “In sync with this, real estate industry will look forward to CLSS scheme also being reintroduced, which will ensure a larger impact,” added Gautam Thacker:

From the perspective of Neral Karjat as also ‘Mumbai 3.0’, the Green credits scheme will support sustainable homes and carbon-neutral development, said Dinesh Doshi. “We are glad that the Indian Government is taking steps towards creating Carbon Neutral Development, which dove-tails into growth prospects for Mumbai 3.0. It is a welcome first step, and we have a long way to go,” added Gautam Thacker.

Disposable income is expected to go up, as a result of positive steps in terms of income tax including exemption for income up to INR 7 lakh and the new tax slabs, said Dinesh Doshi. “This will doubtlessly benefit the middle class. Housing, as a result, should get a collateral boost,’ said Gautam Thacker. Loan to States, which has to be spent on capital expenditure including urban planning reforms and such measures, enhanced housing for police personnel, constructing Unity Malls, and creating digital infrastructure are positive steps. The Budget has a clear goal – capital expenditure loans to be spent on developing urban planning and infrastructure will boost the development of affordable, carbon-neutral cities in locations like Neral Karjat and Mumbai 3.0 would benefit, said Dinesh Dosh. “The budget focuses on Infrastructure development and job creation, which will ensure economic growth and Real Estate Development,” concluded Gautam Thacker.

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