Union Budget 2021 | Affordable, rental housing push likely to boost residential demand during COVID-19 pandemic
Infrastructure initiatives include MetroLite and MetroNeo to be launched for Tier-2 cities and peripheral areas of Tier-1 cities
Affordable and rental housing got a major push in Budget 2021 with the government extending the period for extra deduction of Rs 1.5 lakh available for loans up to March 31, 2022, a move expected to boost housing demand amid the ongoing COVID-19 pandemic.
Amid the prolonged pandemic scenario, this extension was needed to support the latent housing demand in the country, experts said.
Infrastructure projects, especially Metro, also received a shot in the arm. This, said real estate experts, will act as a strong catalyst in driving real estate in urban areas.
Budget 2021 | Metro light and metro neo to be launched for Tier 2 cities: FM Nirmala Sitharaman
Finance Minister allocated Rs 14,788 crore in the Union Budget 2021-22 for the expansion of the Bengaluru Metro, while the Chennai Metro Phase 2 will be built at a cost of almost Rs 62,000 crore.
Metro rail network of 702 km is already operational across the country.
Continuing the government s focus on infrastructure development, Finance Minister Nirmala Sitharaman, who presented the Union Budget 2021-22 on February 1, said emphasis will be laid on the expansion of the metro rail network across the country.
Metro rail network of 702 km is already operational across the country, and another 1,600 km of metro rail network is under construction in 27 cities, said Sitharaman.
Union Budget: Housing and Urban Affairs Ministry allocated ₹54,581 crore
The National Capital Region Transport Corporation has been allocated ₹4,472 crore as against 2,487 crore in the revised 2020-21 estimates.
(Ramesh Pathania/Mint)
. Updated: 01 Feb 2021, 05:49 PM IST PTI
The Smart Cities Mission, another flagship programme of this government, has been given ₹6,450 crore as against ₹3,400 crore in the 2020-21 revised estimates
Share Via
Read Full Story
New Delhi: The Union Housing and Urban Affairs Ministry was allocated ₹54,581 crore for the next fiscal, according to the Union Budget for 2021-22 announced on Monday.
The Swachh Bharat Mission-Urban, a flagship programme of the Modi government, has been given ₹2,300 crore in the 2021-22 Union Budget that was presented by Finance Minister Nirmala Sitharaman in Parliament on Monday.
The Union Housing and Urban Affairs Ministry was allocated Rs 54,581 crore for the next fiscal, according to the Union Budget for 2021-22 announced on Monday. The Swachh Bharat Mission-Urban, a flagship programme of the Modi government, has been given Rs 2,300 crore in the 2021-22 Union Budget that was presented by Finance Minister Nirmala Sitharaman in Parliament on Monday. The government has allocated 23,500 crore for the projects related to Mass Rapid Transit System (MRTS) and Metro services in the country. The Smart Cities Mission, another flagship programme of this government, has been given Rs 6,450 crore as against Rs 3,400 crore in the 2020-21 revised estimates.
Clean cooking fuel, urban mobility find place in Union Budget 2021-22 downtoearth.org.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from downtoearth.org.in Daily Mail and Mail on Sunday newspapers.