Real Estate Sector relieved with PMYA Yojana scheme

On February 1, our finance minister Nirmala Sitharaman announced the Union Budget, 2023. The vision for this Amrit – kaal is technology driven and based on knowledge, strengthening the public finances. The Real Sector had its share of ups and downs. To make homes more affordable and bolster the vision of “affordable housing”, the Budget has introduced schemes to facilitate it.

Mr. Ashok Chhajer, CMD of Arihant Superstructures Ltd. expected the Govt. to boost the affordable housing by reintroducing the Section 80IB.

The Govt. has announced an increase in PMYA YOJANA fund for affordable housing. PM Awas Yojana outlay hiked by 66 pc to Rs 79,000 crore. This will boost major affordable housing developers for houses below 25 lacs. With this we can see the real estate sector being benefitted. This will encourage the states and cities to undertake urban planning further enhancing the infrastructure growth.

Mr. Ashok Chhajer had expected the Govt. to facilitate the Growth of Infrastructure with the State Govt.

The government has laid down a special fund vehicle of 10000 crore each year for big city development and thus it will benefit the Mumbai region.

Ashok Chhajer said, The Central Govt has Increased Capital Outlay for Infrastructure to pull in private investment. This will lead the country to accomplish the old saying, Bharat ek Sone KI Chidya, under the leadership of our Prime Minister Shri. Narendra Modiji.