The Union Budget of 2023-24 was presented at a juncture where the Indian economy was largely seen as one that was decoupling from the world in terms of growth. The post-COVID recovery in India’s consumption expenditure and the steep recovery across all sectors of real estate was noteworthy.
2022 witnessed a record high office leasing volume of over 71 msf across the top 8 cities of India, record low vacancies across Grade-A malls, approx. 53 msf of leasing activity in Logistics and Industrial space, and the highest-ever residential launches were a few highlights. All this has come despite lowering estimates of the world economic growth outlook for 2023.
It is apt to say the pandemic-related woes have been substantially overcome by the Indian real estate sector. In the Union Budget 2023-2024, we review the key to propelling forward and sustaining this bullish momentum.
Click here to read our review of the union budget 2022-2023.
Union Budget 2023-2024
08/02/2023
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