Budget Outlook: Shaping Rising India’s Urban Spaces

Atul Bohra, Group CEO, Kolte-Patil Developers

Atul Bohra Group CEO Kolte-Patil Developers Limited, Budget 2024 reactions,

“The Union Budget 2024-25 presents a visionary approach to urban development that aligns with the aspirations of modern India. We commend the emphasis on sustainable development through solar and renewable energy, city planning, and transit-oriented development, which will create more liveable, sustainable urban spaces that elevate the quality of life for residents. We applaud the government’s commitment to address housing needs, with an allocation of ₹10 lakh crore under the PM Awas Yojana for constructing 3 crore houses. This will boost affordable housing and catalyze economic growth.

Focusing on job creation and skill development, and sanctioning 12 new industrial parks near 100 cities will attract businesses and stimulate urban development. Initiatives like digitization of land records and GIS mapping, combined with workforce skilling, will have a multiplier effect on the real estate sector. The ₹11 lakh crore allocation for infrastructure development will enhance urban quality of life.

The pro-business stance, featuring simplified FDI regulations and the promotion of Rupee-based overseas investments, is appreciated. The reduction in stamp duty for women homebuyers promotes inclusive homeownership.

At Kolte Patil Developers, we focus on creating elevated living experiences that inspire families to achieve superior life quality across cities. We look forward to contributing to shaping India’s urban future, creating spaces that inspire and uplift the aspirations of a rising India.“

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