Real estate expert India

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…

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