In her budget presentation today, February 1, Finance Minister Nirmala Sitharaman announced significant infrastructure allocations related to the extension of current airports and railway corridors. Real estate experts predict that these announcements will stimulate increased real estate activity, particularly in tier II and III cities.
The FM announced the expansion of current airports under the UDAN plan and the implementation of three key railway corridor programs under PM Gati Shakti when he presented the interim budget on Thursday. Furthermore, the government increased its capital expenditure (capex) budget to Rs 11.11 trillion for the fiscal year that begins on April 1, 2024.
Experts feel that the Gati Shakti initiative, which was previously established, and the budget’s emphasis on infrastructure and technology could raise the value of real estate in Tier II and III cities, even if the interim budget did not expressly target these locations.
