Union Budget 2022: Real Estate Sector hails it as a Growth-Inducing Budget
Aditya Kushwaha, CEO and Director, Axis Ecorp said, "The real estate sector is the backbone of the economy and will play a pivotal role in this Amrit Kaal. The budget 2022 is growth-inducing and does the heavy lifting by sharply increasing capital expenditure. On the real estate aspect, the annual budget reinforces the Government's focus on affordable housing."
He said the government has also announced an outlay of Rs 20,000 crore toward Gati Shakti for integrated planning and coordinated implementation of infrastructure connectivity projects. In the budget 2022-23, there was also an emphasis on sustainable development with climate action being one of the central themes.
Kushwaha said during the budget announcement, the Finance Minister also mentioned that the tier-2 and tier-3 cities would have to step up in terms of development.
"In the last couple of years, we have already seen an incremental demand coming from these areas and we believe that with the right push, one can expect these pockets to post even better growth. In line with this, we were expecting the government to incentivize the secondary housing market but that has been left unaddressed. Another major concern area for the sector has been increasing prices of raw materials. Unfortunately, no relief in regard to this has been announced in the budget presentation," added Kushwaha.
