Union Budget 24:Realty players'high-rise expectations

During 2023, the Indian real estate sector-both housing and commercial- witnessed buoyancy fuelled by demand, supply, and absorption, and the sector is banking on the upcoming Budget to keep the momentum going.

-  ANEEKA CHATTERJEE

Mumbai-based Sattva Group wants the government to focus on the critical pillars for long-term growth. The company emphasised on the infrastructure boom with increased allocation, lower goods and services tax (GST) rates, incentives for affordable housing and single-window clearance to fasttrack projects and support liquidity.

"We expect an infrastructure boost as a result of increased allocations, recognising the direct impact on property values and demand. Tax reforms are a top priority, with hopes for lower GST rates and expanded deductions to boost demand and investment," said Bijay Agarwal, managing director (MD), Sattva Group.

"A firm commitment to singlewindow clearance aims to reduce roadblocks and speed up projects. RERA amendments are anticipated to enhance regulatory mechanisms.

With optimism, we await collaborative efforts propelling the sector towards sustainable growth," he added further.