Union Budget 2024: Top 20 Highlights Impacting The Real Estate Sector

 

Introduction

Key Developments Across India

On July 23, Financae Minister Nirmala Sitharamn presented the Union Budget for 2024, outlining significant development plans across various sectors and regions in India. Here are the top 20 highlights for the real estate sector:

1. PMAY Expansion: The government plans to construct 30 million additional houses under the Pradhan Mantri Awas Yojana (PMAY) in both rural and urban areas. PMAY-Urban 2.0 aims to address the housing needs of one crore urban poor and middle-income group families, with an investment of Rs 10 lakh crore. This investment includes Rs 2.2 lakh crore in central assistance over the next five years, focusing on "Housing for All."

2. Creative Redevelopment of Cities: The budget introduces a framework for the creative redevelopment of ageing urban areas. This initiative includes enabling policies, market-based mechanisms, and regulations to rejuvenate these cities, enhancing their livability and sustainability. For more information...Read more


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