Assam Real Estate and Infrastructure Developers' Association welcomes Budget proposals

STAFF REPORTER

GUWAHATI: Assam Real Estate and Infrastructure Developers' Association (AREIDA) president PK Sharma has stated that the Finance Minister of Assam has done a creditable job in allocating resources in the State Budget 2022-23. The emphasis on infrastructure development and improved connectivity through roads, and bridges water ways and air would have tremendous impact on real estate and the Government's focus on this aspect with substantial revenue allocated is a major step in boosting economic growth.

In a statement, Sharma further mentioned that flyovers at Mancotta Road, Dibrugarh and elevated corridor over the GNB Road at Guwahati will ease traffic congestions. New airports and helipads at several parts of the State is a welcome development. The elaborate allocations towards development of water ways would utilize the transportation potential of the Brahmaputra.

Mission Basundhara, which is already a grand success, is further being expanded with the proposed addition of Basundhara 2, which proposes to use modern technology to address all land-related issues, including automatic mutation once a sale deed is executed, is indeed a laudable step. Land is the basic resource of real estate development and efficient and modern technology-based land records management will promote ease of doing business. Extension of the Apun Ghar Scheme is welcome as this would bring in capital into the housing projects and enhance demand. Proposal to create a new-age, world-class integrated Global City (Amrit-GIG City) in 1000 acres of land at Guwahati is a path-breaking initiative.

Emphasis on river and tea tourism initiatives would generate scope for real estate projects in hotels and resorts. Alloction of Rs 1,000 crore for the development of Urban Infrastructure under the reconstituted Urban Infrastructure Development Fund is welcome. The proposal to create three dedicated cadres for management of municipal areas is a well-though- out step to strengthen the management of urban areas.

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