
Real estate set to gain as Maharashtra Budget focuses on infra, housing
Several key infrastructure projects announced in the budget including the third airport to cater to the country’s financial capital Mumbai are expected to enhance real estate prospects in the state.
With a focus on improving connectivity and easing housing shortages, the state government’s initiatives are expected to drive demand in both residential and commercial markets across the state including key property markets of Mumbai, Pune, and Nashik.
“The Maharashtra budget presents a robust framework that is poised to significantly accelerate economic growth through its strategic focus on mega multi-modal infrastructure projects. This visionary roadmap will undoubtedly enhance connectivity, stimulate commercial and industrial development, and further strengthen Mumbai’s position as India’s growth engine,” said Niranjan Hiranandani- Chairman- Hiranandani Group.
A major highlight of the budget is the Rs 15,000 crore allocation for rural housing under Pradhan Mantri Awas Yojana (PMAY) Phase-2, targeting the construction of 2 million homes. Additionally, Rs 8,100 crore has been set aside for urban housing under PMAY (Urban), to help achieve the stated objective of ‘Housing for All.’
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