India’s Union Budget 2022-23 has brought forth a host of benefits across industries. For real estate, a reduction in corporate surcharge from 12% to 7% is a good news for the developer community. The issuance of digital rupee by RBI using blockchain technology will render more transparency to real estate transactions. Affordable housing has also got a boost with Rs 48,000 crore allocated for completion of construction of 80 lakh houses under PM Awas Yojana. Rs 60,000 crore have been additionally allocated for the Har Ghar Nal program. Last but not the least, additional allocation of Rs 19,500 crore for manufacturing solar modules augurs well for real estate.
