Will boost housing in NCR: Realtors

Sumedha Sharma

Gurugram, February 1

With the pre-election interim budget 2024 prioritising affordable and rural housing, the realty market and construction industry of the Delhi NCR have got a boost. Finance Minister Nirmala Sitharaman has announced that the government would launch a housing scheme for the middle-class, schemes to help slum-dwellers as well as those living on rent.

The government has announced two crore more houses under the Pradhan Mantri Awas Yojna – Gramin.

“The government’s commitment to housing development through the Pradhan Mantri Awas Yojana – Gramin is laudable, with the announcement of two crore additional houses reflecting a dedicated effort to improve residents’ lives and address rural housing challenges. Further, the reiteration of a new scheme for the urban middle-class population, would also boost the confidence of both the common man and the real estate sector. We now look forward for a clear roadmap of this scheme which will be a major boost to realty sector and overall development of the NCR,” said BG Hari Babu, national president, National Real Estate Development Council.

“The Finance Minister underscored the government’s recognition of the significance of homeownership. With the economic scenario improving and the average real income of individuals witnessing a 50 per cent increase, optimistic expectations abound for the real estate sector to thrive across all segments. An additional favourable development is the government’s unwavering focus on infrastructure development, reflected in the 11.1 per cent increase in the outlay for infrastructure,” added Pradeep Aggarwal, founder and chairman, Signature Global.

Nayan Raheja, chairman, Raheja Developers, said the increased spending on infrastructure, would increase prosperity and also boost economic prospects.