Which Are The 5 Government Initiatives That Will Boost the Indian Real Estate Sector & How?

The Finance Budget 2024's strategic focus on affordable housing, infrastructure development, and urban planning is poised to significantly boost India's real estate sector.

Key initiatives such as the allocation of ₹10 lakh crore for PMAY, policies for rental housing, development of industrial parks, and digitisation of land records are expected to enhance urban development, attract investments, and create a more transparent and efficient real estate market.

The government's renewed focus on affordable housing, infrastructure development, and urban planning is set to significantly impact the real estate sector.

Ghar lists the reasons why:

Affordable Housing Investment:

Allocation of ₹10 lakh crore for the Pradhan Mantri Awas Yojna (PMAY) to construct 30 million additional homes, with 10 million in urban areas, supporting job creation and industrial growth.

Rental Housing and Urban Development:

Policies for rental housing, digitisation of land records, and transfer-oriented development for cities with over three million residents will streamline urban planning and reduce congestion.

Industrial Parks Development:

Investment-ready industrial parks near 100 cities and 12 sanctioned industrial parks under the National Industrial Corridor Development Programme will drive industrial growth and attract investments.

Land Record Digitisation:

Introduction of unique identification numbers for rural land parcels and GIS mapping for urban land records will enhance transparency, streamline transactions, and reduce disputes and fraud.

Urban Planning Enhancements:

Policies for brownfield redevelopment and efficient land use in large cities will improve infrastructure and living conditions, fostering a more organized and investment-friendly environment.