Mumbai: The budget comes as a savior for the real estate industry. There were many expectations from the budget. It is fair to say that it has progressively boosted the real estate sector. Today, house purchase has become an easy option and has been made possible due to efforts of government and real estate players like Shravan Gupta, MGF Group.
Real estate expert, Shravan Gupta is very ecstatic about these changes. In recent months there has been an enhanced focus on urban development and new constructions. Such changes hold the potential to impact the sector in a positive manner making it a booming industry. The new budget has further enhanced the scope of development with plans like smart city planning. It will draw more builders to mid-level cities.
There were many expectations of real estate from the budget. Some of the things achieved by changes in the segment have the vision to make India a vibrant and growing economy. Real estate has the optimum potential to make India a new growth story and be a market leader in real estate.
One might wonder why real estate is big in India. The abundant land availability and growing population demands have boosted the segment in 2023.
The capping of capital gain tax at 10 lakhs seems a good move. It may benefit middle-class and mid-income groups who have sold or bought and who want to avail the benefits of the low capital gain tax. This move will prove as a boon and bane for home buyers. Hence, there is some apprehension about this move but some are happy about it.
Today most builders emphasize proper planning and re-development of tier 2 cities. We are witnessing the emergence of a new thought process amongst builders like Shravan Gupta, MGF Group. The government’s emphasis on efficient planning and infrastructural development like highways, roads and schools has boosted the real estate segment. There are newer constructions in tier 2 and mid-level cities like Indore and Udaipur. These have been made possible due to government incentives and PM Awas Yojana. It has attracted many builders like
Shravan Gupta, MGF Group to make specialized homes fulfilling everyone’s dream.
Indian real estate is in the best phase and is going to reach new heights. These are signs of a new India whose aim is to give a home to every Indian. The property rates have risen in tier-2 cities making it a new growth story.