Union Budget 2024 | Policy for rental housing market a welcome move, says Harsh Parikh of Khaitan & Co

'Government's plan to implement a policy for rental housing market is a big step to streamline residential renting market,' Harsh Parikh said.

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

The Budget identified the following areas as priorities: productivity and resilience in agriculture, employment & skilling, inclusive human resource development and social justice, manufacturing & services, urban development, energy security, and infrastructure.

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Here’s how industry stakeholders reacted:

Harsh Parikh, Partner at Khaitan & Co, Mumbai said, "Government's plan to implement a policy for rental housing market is a big step to streamline residential renting market and can open doors to many large real estate players including foreign investors to establish large residential complexes and ensure smooth renting."

"Guidance to all states to rationalize stamp duty and to give more benefit for women buyers is also a huge welcome step," Parikh added.

(With Reuters inputs)

Union Budget 2024 LIVE | Making a record for any Finance Minister, Nirmala Sitharaman presented her 7th consecutive Union Budget on July 23, 2024 under the Modi 3.0 government. This Budget brought tax relief for the middle class, while focusing on jobs through skilling, incentivising employers. Track the latest coverage, live news, in-depth opinions, and analysis only on Deccan Herald. Also follow us on WhatsApp, LinkedIn, X, Facebook, YouTube, and Instagram.