Pune: The Union Budget 2024-25 has charted a progressive course for the real estate sector, promising substantial benefits for urban regions. The budget’s comprehensive framework targets critical areas such as affordable housing, urban infrastructure, and digital transformation, setting the stage for significant advancements in the real estate market.
A notable highlight is the allocation of ₹10 lakh crore under the Pradhan Mantri Awaas Yojana (PMAY) for urban housing, poised to address the housing shortage and stimulate the affordable housing segment. The emphasis on Transit-Oriented Development (TOD) for major cities will enhance connectivity, reduce congestion, and promote sustainable urban growth.
The establishment of industrial parks through public-private partnerships is another strategic initiative, expected to bolster industrial development and generate employment. The provision of rental housing for industrial workers via the Viability Gap Funding (VGF) model addresses a crucial need for affordable accommodation, supporting the workforce essential to the economic ecosystem.
