real estate
Interim budget - real estateIANS

The big operators in the real-estate sector of the country on Thursday welcomed the proposals of the Interim Budget 2024 presented by Finance Minister Nirmala Sitharaman, saying the focus on housing requirements of the middle class will actually boost the sector.

According to the CEO of Shristi Infrastructure Development Corporation Limited, Sahil Saharia, the primary goal of this focus on housing for the middle class is to enable these individuals to either buy or construct their own homes.

"This declaration represents a significant stride in promoting affordable housing and realising the dream of homeownership for the middle class. By specifically targeting individuals in rented dwellings or informal settlements, the government is recognising the challenges faced by a substantial portion of the population and is implementing concrete measures to provide them with a viable path to owning a home," he said.

Sitharaman Announces Three New Railway Economic Corridors
Sitharaman Announces Three New Railway Economic CorridorsIANS

The Managing Director of the Jain Group, Rishi Jain, said the move to bolster the PMAY-Grameen programme and to accelerate the housing for all mission call for celebration.

"I predict that the higher capital outlay towards long-term infrastructure will also have a positive effect on the real-estate industry," he said.

The Managing Director of Siddha Group, Sanjay Jain, said the focus on housing for the deserving section of the middle class, particularly those residing in rented houses or slums, empowering them to acquire a home of their own, will not only to boost the real-estate sector, but also the ancillary industries such as housing finance, material sourcing, architecture, design among others.

(With inputs from IANS)