Interim Budget 2024: No Major Real Estate Changes
Even with an unprecedented rise of the human population, there’s no astounding changes in the Interim Budget for the year 2024.
Although it made few significant adjustments, the 2024 Interim Budget prioritized enhancing India’s network of roads, bridges, and connections. This would further benefit cities of all sizes in their further expansion. A few announcements made by the minister of finance will benefit the real estate industry both directly and indirectly.
In spite of obstacles, the PM Awas Yojana (Gramin) continued to progress without any hurdles. After achieving its target of over 3 crore homes, it has now intended to construct an additional 2 crores in the upcoming five years. This will facilitate the ownership of dwellings by residents in rural regions.
Moreover, introduction of new schemes would help middle-class individuals to reside in a well established colonies among well educated sections of the human population. Taking up this decision might free up slum areas as well which have captured most of the land by their higher population growth rate.
Dwelling in places where there is an easy public transport facility would encourage more and more people in buying homes. This would in turn help generate a lump sum revenue for the real estate.
As a result of increased human population , tourist places’ attractions will be on a high peak that would further help in the business rise of hotels and restaurants.
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Source: India Times