The Finance Minister, Nirmala Sitharaman, presented the fifth Union Budget on February 1, 2023. Real estate has always been a major contributor to India’s GDP. The takeaways related to real estate from the Union Budget 2023 hold significance due to this reason. In fact, in the coming three years, the real estate sector is expected to contribute 13% to India’s GDP. Real estate is one of the sectors in India that has shown constant growth. The financial year 2023 is expected to show a growth of 7% of GDP, continuing the trend.
The post-pandemic period has been hard on the real estate sector as well. The stakeholders have been eagerly waiting for the Union Budget 2023, hoping it will meet some of their key expectations. Let’s see what Union Budget 2023 had in store for real estate, directly and indirectly, and whether it met the expectations of the realtors.
To sum it up, this year’s Union Budget’s major focus goes on “Housing for all”, and urban infrastructure development. The announcements are expected to help the real estate industry positively. 2023 is looking like a good year for investing in 3 & 4 BHK luxury flats in Bangalore considering the funds allocated for urban development. This increases the chances of higher returns on real estate investments in luxury apartments in Bangalore. Advaitha Aksha is a prestigious project that offers 3 & 4 BHK luxury apartments in Koramangala. It comes with a breathtaking view of 1500 acres of no development of Agara lake, Bellandur lake, and an infinite green zone to make your days at home serene and peaceful. These luxury flats in Koramangala are an ideal option for investment and with the benefits of the Union Budget 2023, now is the best time to make a safe investment in real estate! Check out the Advaitha Ventures website to know more about Advaitha Aksha.