Budget 2018 Provisions to Boost Social Infrastructure
Feb 12, 2018 Real Estate News
While selecting a property, apart from budget and location, social infrastructure plays a crucial role that influences our buying decision. Although a property in a locality equipped with well developed infrastructure will cost comparatively more than the one which is around developing locality or infrastructure. And this budget has some provisions that are expected improve the civic and social infrastructure making the real estate markets of certain areas more attractive. Let’s know how?
Finance Minister (FM) Arun Jaitley said, “Infrastructure is the growth driver of the economy. Our country needs massive investment in access of Rs 50 lakh crore in infrastructure to increase the growth of GDP and integrate the nation with a network of roads, airports, railways, inland water and to provide good quality services to the people.” Infrastructure has been the main area of focus in this budget. And needless to say, that development of infrastructure is one of the key growth drivers of real estate.
In this budget, the allocated fund to build infrastructure has been increased. The budget allocated for the road ministry has been increased to Rs 71,000 crores for 2018-19 from Rs 64,900 crores. This move is expected to improve and fuel the growth of the real estate sector across the country.
The FM also stated that under the Bharatmala scheme, flawless connectivity will be provided to all the backward and interior areas of the country. In the phase-I of the project, 35,000 km of highways will be constructed at a cost of Rs 5.35 lakh crore. National highways more than 9,000 km shall be completed in the year 2018-19. Better roads is a positive factor for the growth of real estate sector. As better the roads will be, more properties will come up and demand will also increase.
Presently there are 124 airports in the country and there are plans to increase this number to five times. As the airport number will increase, more industry will come up in that area that will result in more people shifting there and hence the housing demand will further increase.
Talking about the railways which are another important aspect of infrastructure has also got its mention in the budget 2018.The FM has kept aside Rs 1,48,528 for the railways. Now, almost all trains will have CCTVs and Wi-fi. The centre has also kept a budget of Rs 14,264.60 crore to develop metro projects across the country. All these moves by the government to boost infrastructure projects will in return boost the real estate sector in metros as well as in tier I and tier II cities.
Finance Minister (FM) Arun Jaitley said, “Infrastructure is the growth driver of the economy. Our country needs massive investment in access of Rs 50 lakh crore in infrastructure to increase the growth of GDP and integrate the nation with a network of roads, airports, railways, inland water and to provide good quality services to the people.” Infrastructure has been the main area of focus in this budget. And needless to say, that development of infrastructure is one of the key growth drivers of real estate.
In this budget, the allocated fund to build infrastructure has been increased. The budget allocated for the road ministry has been increased to Rs 71,000 crores for 2018-19 from Rs 64,900 crores. This move is expected to improve and fuel the growth of the real estate sector across the country.
The FM also stated that under the Bharatmala scheme, flawless connectivity will be provided to all the backward and interior areas of the country. In the phase-I of the project, 35,000 km of highways will be constructed at a cost of Rs 5.35 lakh crore. National highways more than 9,000 km shall be completed in the year 2018-19. Better roads is a positive factor for the growth of real estate sector. As better the roads will be, more properties will come up and demand will also increase.
Presently there are 124 airports in the country and there are plans to increase this number to five times. As the airport number will increase, more industry will come up in that area that will result in more people shifting there and hence the housing demand will further increase.
Talking about the railways which are another important aspect of infrastructure has also got its mention in the budget 2018.The FM has kept aside Rs 1,48,528 for the railways. Now, almost all trains will have CCTVs and Wi-fi. The centre has also kept a budget of Rs 14,264.60 crore to develop metro projects across the country. All these moves by the government to boost infrastructure projects will in return boost the real estate sector in metros as well as in tier I and tier II cities.
Looking for property portal?
Related Articles
-
-
-
How to Choose between Selling and Renovation
Oct 15, 2018 -
