Assam Real Estate and Infrastructure Developers' Association Welcomes Union Budget

Staff Reporter

Guwahati: The Assam Real Estate and Infrastructure Developers' Association (AREIDA) has welcomed the Union Budget, terming it as forward-looking.  AREIDA president P.K. Sharma said the focus on housing and urban development as growth hubs and the key allocation of Rs 1 crore for the urban poor and middle class to be covered under the PM Awas Yojana Urban 2.0 and MSME support will propel India's growth and the Housing for All Mission. Further, orderly development of peri-urban areas through economic and transit planning, a framework for creative brown field re-development of existing cities, allocations for water supply, sewerage treatment, and solid waste management for 100 cities, as well as transit-oriented development plans announced, are welcome, he said.

Enabling policies and regulations for transparent rental housing markets; including rental housing for industrial workers in PPP mode, and the reduction of stamp duty proposed are positive steps for real estate development. A reduction in long-term capital gains tax from 20% to 12.5% and an increase in short-term capital gains tax on shares from 15% to 20% will result in a shift of high-net-worth investments from equity to real estate.

Also Read: Assam Budget 2024-25 is growth-oriented: AREIDA (sentinelassam.com)

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