Tushad Dubash – Director, Duville Estates.
NEW DELHI: Budget 2018-19 focus on infrastructure and the Smart Cities initiative is a positive move for the real estate sector and Pune in specific, said Tushad Dubash – Director, Duville Estates.
“The Smart Cities Mission is an ambition to develop 100 cities across India that would also harness the Information Communication Technology (ICT) capabilities,” he added.
“Pune comes under the governments Smart City initiative and the allocation of Rs. 2.04 lakh crore towards the listed 99 Smart Cities will serve well for Pune’s real estate market. Pune’s real estate is one is the lesser impacted markets in comparison to the other key cities and have proved to be one of the more resilient markets in the country,” said Tushad.
“Unlike other metros where buyers have demonstrated a strong preference for ready-to-move in apartments, in Pune there has been a steady skew to in terms of interest in under-construction projects. It is important to note that strong Real Estate have had a steady momentum in terms of inventory off-take and that the excellent infrastructural connectivity has definitely lent a positive slant to sustaining the current momentum especially in some of Pune’s micro-geographies which have withstood the onslaught of a decline in prices due to the impact of de-monetization, RERA and GST. Combining Pune’s growing infrastructure along with the sustained demand will boost Pune’s real estate market further,” he added.
Infrastructure is a growth driver for the country and the budgets focus on infrastructure and connectivity will have an impact on not only the real estate sector but the economy on the whole.
The Government of India has enhanced allocation for the Infrastructure Sector in the Union Budget 2018-19, recognizing its role as the growth driver of the economy.
The budgetary and extra budgetary expenditure for the Sector has been increased from Rs.4.94 lakh crore in 2017-18 to Rs.5.97 lakh crore in 2018-19. An all time high allocation of Rs 1,34,572 crore has been made for the transport sector while the efforts to develop disaster resilient infrastructure is being given a push with an allocation of Rs. 60 crore in 2018-19. This was announced by the Union Finance Minister, Arun Jaitley while presenting the General Budget 2018-19 in Parliament here today.