Real estate sector pins hope on reforms, incentives Premium
The Hindu
Budget 2024: Sanjay Dutt discusses the real estate sector's growth, challenges, and expectations for policy reforms in India's economy.
In India’s socio-economic landscape, the real estate sector has consistently proven to be a key pillar of strength and growth. As the nation weathered global storms and internal challenges during recent years, this resilient industry stood tall, not merely surviving but thriving.
The sector has been instrumental in driving economic progress, creating jobs, shaping urban development and laying the very foundation of India’s progress.
Last year, the industry witnessed robust expansion, with the residential property market marking 48% year-on-year growth. Housing sales and new launches have surged, with a notable focus on mid-range and premium segments.
The transactions in the commercial segment also doubled during the year.
Also read:Union Budget 2024: Real estate’s wishlist
As we examine the sector’s recent performance and its impact on the broader economy, it becomes clear why real estate demands our attention and support.
It continues to be a driving force behind India’s economic growth, actively building the nation’s path to prosperity. However, there also lie persistent challenges that continue to hinder the sector’s full potential.
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