Key effects of Budget announcement on Real Estate Sector
Authored by: Ashwinder R Singh (Real estate India expert & Best selling author)
Key Budget Announcements affecting Real Estate Sector:
- Pradhan Mantri Awas Yojana ( Rural & Urban) – 80 Lakh new beneficiaries shall be identified 48000 Cr allotted
- Central govt. will work with state govt for reduction of time for land and construction related approvals promoting affordable housing for middle class and economically weaker section in urban areas
- Work with Financial Sector regulators to expand access of capital along with reduction in cost of intermediaries
- Establishment of High-Level Committee on Urban Sector which shall drive Modernisation of Buidling bye Laws, TDR reforms, Transit Oriented Reforms and sustainable development.
- Data Centres Given Infrastructure Status
- Environment Approval – Parivesh – Single window portal -Green clearances scope of this portal will be expanded and improved
- Need to nurture mega-cities while also focusing on Tier 2 and Tier 3 cities.
- Special Economic Zone Act will be replaced with new legislation enabling State to become partners. This will cover all large industrial enclaves.
- ECLGS extended upto March 2023 – Guarantee cover will be expanded to 5 Lakh Crore. Additional guarantee for hospitality and related sector
- Under PM Gati Shakti – Multi modal logistics parks in PPP model in 2022-23
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Authored by: Ashwinder R Singh (Real estate India expert & Best selling author) Key Budget Announcements affecting Real Estate Sector: Pradhan Mantri Awas Yojana ( Rural & Urban) – 80 Lakh new beneficiaries shall be identified 48000 Cr allotted Central govt. will work with state govt for reduction of time for land and construction related…
