Post-budget Reaction | Square Yards | Signature Global | Colliers

 1) Piyush Bothra, Co-Founder and CFO, Square Yards

The government's announcement regarding the construction of an additional 20 million homes under the Pradhan Mantri Awas Yojana- Rural (PMAY) underscores its commitment to promoting inclusivity and ensuring ample living accommodations for all. This initiative is poised to significantly elevate housing standards in rural areas, catalyzing growth in the housing sector within these regions. Furthermore, the pledge to introduce a housing scheme specifically catering to deserving sections of the middle class, currently residing in rented houses, slums, chawls, or unauthorized colonies, represents a significant stride towards providing a sense of security and pride. Enabling these individuals to purchase or build their own homes not only fulfills their dreams but also contributes to fostering a stronger and more resilient community.

2) Mr. Pradeep Aggarwal, Founder & Chairman, Signature Global (India) Ltd.  says on interim budget that, " Finance Minister underscored the government's recognition of the significance of homeownership. In a notable announcement, the FM stated a housing scheme would announce soon targeting the middle class, extending to those residing in rented houses with the aim of facilitating the construction or purchase of their own homes. This initiative is expected to revitalize the Mid housing & Affordable housing sector.

Moreover, with the economic scenario improving and the average real income of individuals witnessing a 50% increase, optimistic expectations abound for the real estate sector to thrive across all segments.

An additional favorable development is the government's unwavering focus on infrastructure development, reflected in the 11.1% increase in the outlay for infrastructure. The government's ambitious goal of transforming India into a 'Viksit Bharat' by 2047 is poised to create a conducive environment for the expansion of the overall economy and the real estate sector as well."

 3) Badal Yagnik, Chief Executive Officer, Colliers India

The Interim budget was laid on the premises of infrastructure, housing, green energy initiatives and innovation, setting up the foundation for a 6-7% sustained GDP growth in the next few years. The unwavering commitment to infrastructure development stands as a cornerstone for fostering economic growth, extending tangible impact on the real estate sector in the longer run. The strong 11.1% YoY increase in infrastructure outlay to over INR 11 lakh crore signals a steady and significant wave of upcoming developments and opening of vast opportunities for all stakeholders including real estate. The continued emphasis on green growth, particularly through the promotion of electric public transport and charging infrastructure development, further positions India on the path of sustainable and environmentally conscious real estate development. At the same time, the government's persistent emphasis on affordable housing unveils a myriad of opportunities for residential developers, as they position themselves to make substantial contributions, aligning with the broader vision of inclusive and accessible living. Amid positive market synergies in the form of stable interest rates, attractive incentives and increased affordability, domestic investors too are likely to resonate upbeat confidence towards all real estate segments.