As Union Budget 2023-2024 is around the corner, please find below the quote on Budget expectations for the Real Estate sector shared by Devanshu Bansal, Director, UK Realty. Also attached is his image for your perusal. Request you to please incorporate the same in your story. Additionally, if you are looking for further inputs, we would be happy to connect you to our spokesperson.
"The Indian residential market sales have been at a decade high in 2022 and to continue this growth momentum, the sector will need some financial support in the upcoming Union Budget 2023.
In the budget, it is imperative to update the affordable housing policy by revising the price capping so that it can be in sync with the market dynamics of different cities. This move will also enable more homes to qualify for affordable housing. Currently, the unit size is 60 sq.m carpet area, which is suitable. However, the price range of up to Rs. 45 Lakh under affordable housing across India’s metro cities such as Mumbai is definitely something that needs to be brought into focus, where an upward range of Rs.85 Lakh or more seems more appropriate."