“The Union Budget 2022-23 came at a time when there was an uptick in the country’s economy, raising anticipations of the real estate sector. However, while the budget did not turn up with any major announcements to address the issues of the real estate industry directly, it has put increased emphasis on infrastructure, focusing on seamless multimodal connectivity and logistics efficiency, such as development of cargo terminals and logistics parks, amongst others. The fact that the budget accorded infrastructure status to data centres and announced SEZ reforms, along with issuance of sovereign green bonds, point towards building sustainable growth in the real estate sector.” – Shrinivas Rao, CEO-APAC, Vestian
“The budget has taken a commendable position of increasing the expenditure significantly in order to boost demand and investment. Direct real estate measures were focused on providing infrastructure status to data centres and allocating ₹48000 cr. for 80 lakh houses under PMAY. However, there are long-term gains wherein the focus on creating a broad-based platform for manufacturing and R&D should create newer avenues for investment and development. In addition, there was significant focus on urban capacity building, digitisation of land records and new proposed SEZ law that will enable States to partner in existing and new exclaves to enhance exports.” – Anurag Mathur, CEO, Savills India