Union Budget 2024 | Multilateral financial assistance for development of new AP capital will boost momentum in real estate, says Vimal Nadar of Colliers India

Finance Minister Nirmala Sitharaman on Tuesday presented the Union Budget 2024, highlighting the Modi government’s priorities 3.0 across sectors.

The budget identified the following areas as priorities: agricultural productivity and resilience, employment and education, inclusive human resource development and social justice, manufacturing and services, urban development, energy security and infrastructure.

Here’s how industry stakeholders responded:

Follow the latest reactions to Budget here

Vimal Nadar, head of research at Colliers India in Mumbai, said: “The availability of multilateral financial assistance for the development of the new capital (of Andhra Pradesh) will give a huge boost to construction and real estate across asset classes, primarily commercial and residential, in the coming years.”

“The announcement of 12 industrial parks under the National Industrial Corridor with a focus on creating integrated zones will boost the supply of Grade A industrial spaces. This will also help in increasing the share of superior quality organised stock within the industrial segment,” he said.

(With Reuters input)