'Boost for infra development, urban expansion in Tier 2, Tier 3 cities'

Finance Minister Nirmala Sitharaman's Budget 2025 is expected to provide a much-needed boost to overall consumption, which could indirectly benefit the thriving real-estate sector. Key announcements impacting the real estate sector include income tax relief, Rs 1 lakh crore Urban Challenge Fund for new-age cities, SWAMIH Fund Allocation of Rs 15,000 crore, revamped UDAAN Scheme, PM Gati Shakti Data Access, support for Global Capability Centres (GCCs) and Rs 1.5 lakh crore fiscal support for MSMEs.

Yateesh Wahaal, Director of Gurugram-based luxury, residential, and retail developer M3M India, says: “We commend FM Nirmala Sitharaman for presenting a visionary Budget 2025 that prioritises infrastructure development and urban expansion, particularly in Tier 2 and Tier 3 cities."

He adds that the Udaan Yojana will be a game-changer, enhancing connectivity and unlocking the economic potential of emerging regions. "Additionally, the national framework for Global Capability Centres in Tier 2 cities will strengthen talent availability and industry collaboration, fostering a robust investment climate."

Wahaal says with India maintaining its position as the fastest-growing major economy, these structural reforms will accelerate real estate growth, boost private sector participation, and empower the middle class by enhancing their spending power.