“The real estate sector held significant expectations from the Union Budget 2018, hoping for alleviating measures post a testing period of reforms. The budget primarily focussed on strengthening agricultural and rural economy, while laying vast emphasis on rural housing. The PMAY scheme launched in 2015 aimed at developing 51 lakhs houses during 2017-18 as well as in 2018-19, implying the construction of more than one crore houses exclusively in rural areas. In urban areas the assistance has been sanctioned to construct 37 lakh houses. This bodes well for the housing sector and the vision of ‘housing for all’ may just turn to reality in the forthcoming future.”
