“The Union Budget 2022-23 comes at a time when the country’s economy had picked up, raising hopes for the real estate sector. While the budget did not come with any major announcements to directly address the issues of the real estate industry, it has focused on infrastructure, seamless multimodal connectivity and logistics efficiency, such as cargo terminals and logistics parks. development, among others. The fact that the budget gave infrastructure status to data centers and announced SEZ reforms, along with issuance of sovereign green bonds, pointed towards the creation of sustainable development in the real estate sector. – Srinivasa Rao, CEO-APAC, Vestion
“The Budget has taken a commendable position to significantly increase expenditure to boost demand and investment. The direct real estate measures focused on providing infrastructure status to the data centers and allocated ₹48000 crore. For 80 lakh houses under PMAY. However, there are long-term benefits including that a focus on creating a broad-based platform for manufacturing and R&D should lead to new avenues of investment and growth. In addition, significant attention was paid to urban capacity building, digitization of land records and the newly proposed SEZ law that would enable states to partner in existing and new exclaves to increase exports. – Anurag Mathur, CEO, Sevilles India
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