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Real estate sector expects Union Budget to extend a helping hand

Based on the image you sent, I can see that you want me to summarize a news article from Financial Express dated January 18, 2022. The article discusses the expectations of the real estate sector from the Union Budget amidst the challenges posed by the COVID-19 pandemic. The sector, although well-prepared to combat the virus’s initial wave, faced significant hurdles due to economic downturns and is now looking forward to a helping hand from the upcoming budget.

According to the article, the availability of liquidity capital has been a major concern for real estate. The pandemic has exacerbated these challenges, including rising construction costs and project development delays. However, there is optimism as various government support and reforms have been instrumental in steering this sector towards recovery.

Sachin Gawri, CEO of Rise Infraventures Ltd., emphasizes that affordable housing has been a silver lining amidst these challenges. He underscores that it is essential for both the central and state governments to provide more impetus in this area for sustained growth of this segment. Gawri suggests that policies should be streamlined and approvals for building should be expedited to meet Housing For All targets effectively.

The demand for housing units is expected to rise with an increase in urban population; however, there are concerns regarding development which should continue to focus on affordability and quality infrastructure but also need an emphasis on sustainable practices considering today’s crowded cities.

Gawri highlights that policy initiatives have indeed brought about positive changes but stresses on further improvements in terms of clarity and consistency in implementation strategies. He believes collaboration between public and private sectors will be crucial in overcoming obstacles faced by real estate.

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