Construction & Real Estate Budget 2024: PM Gramin Yojana aims for 2,00,00,000 homes in next 5 years!

The NSE Mid-Cap Index was down by 0.56 per cent while NSE Small-Cap Index was up by 0.63 per cent.

The stock market ended the day in red with BSE Sensex Index down by 0.15 per cent and NSE Nifty-50 Index down by 0.13 per cent. The Nifty Realty Index is down by 0.94 per cent being one of the top losing sectors. The NSE Mid-Cap Index was down by 0.56 per cent while NSE Small-Cap Index was up by 0.63 per cent.

The Interim Budget 2024, as expected, refrained from major announcements but emphasized infrastructure enhancements and nationwide connectivity, promising significant benefits for real estate growth not only in major cities but also in tier 2 and 3 cities. The Finance Minister Nirmala Sitharaman unveiled initiatives, directly and indirectly, benefiting the sector, including the continuation of the PM Awas Yojana (Gramin), which has already achieved its target of nearly 3 crore houses and now aims for 2 crore more in the next five years.

Additionally, a scheme targeting the middle class will aid in homeownership, potentially freeing up encroachment areas like slums for redevelopment. The allocation of an increased capex outlay by 11.1 per cent to Rs 11,11,111 crore, amounting to 3.4 per cent of GDP, is expected to unlock real estate development opportunities through infrastructure upgrades and new projects. Transit-oriented development in urban areas and the development of iconic tourist centres are anticipated to stimulate housing demand and benefit the hospitality sector respectively. Furthermore, the extension of tax benefits to startups may rejuvenate the office real estate market.

India's real estate and construction sectors are intertwined giants, driving economic activity and shaping the lives of millions. With a booming population urbanizing rapidly, the demand for housing, office space, and infrastructure is skyrocketing. This sector employs millions, attracts NRI investment, and is poised for a USD 1.4 trillion boom by 2025. Government initiatives like Smart Cities and affordable housing schemes are fuelling growth, while innovative construction technologies promise a sustainable future. From megacities to rural areas, real estate and construction are laying the foundation for India's prosperous future.

Following is the list of stocks from the Construction & Real Estate Sector that gave multibagger returns of upto 921 per cent from Budget 2023 to Budget 2024:

Disclaimer: The article is for informational purposes only and not investment advice.