Union Budget 2018: More Focus on Infrastructure Will Boost Real Estate

Before you decide to buy one of the row villas in Bangalore or choose from among the villas in Electronic City, you would want to know all about the real estate scene in the city. Also, what’s the future for the realty sector and what does the Union Budget 2018 mean for buyers and the real estate sector? Read on:

More roads, greater connectivity

Infrastructure is a very important driver of the nation’s economy. A good network of roads means improved connectivity. The Budgetary allocation for improving roads or building new ones has gone up from Rs 64,900 crore to Rs 71,000 crore for 2018-19. This is obviously a boost for real estate, as better roads and connectivity draw more builders to invest in residential properties. More builders and developers mean only one thing — more row villas in Bangalore or more luxury apartments. Greater choices for the end user.

Fast-tracking real estate growth — suburban rail

The Budget for 2018 has also focused on the importance of suburban real networks in Bangalore. This is a shot in the arm for the city’s infrastructure, and consequently real estate sector. The government has allocated Rs 17,000 crore for development of 160 km of rail network for the city’s suburban transport. Better connectivity would naturally mean more interest in real estate. The suburban rail, when implemented, will link the Yeshwanthpur and Yelahanka areas with Anekal and Hosur localities and reduce the burden on road traffic significantly. There is a huge chunk of commuters, mostly office-goers, who travel or live in the vicinity of Sarjapur, Electronic City, Marathahalli and K R Puram who would benefit from the suburban rail. 

People from any part of the city would be open to investing anywhere else in Bangalore. Villas in Electronic City would be an attractive proposition for not just people living or working in its vicinity but for people anywhere else in the city as getting there would hardly be an issue. Traffic jams, a major headache for the Bangalorean, will be eased and consequently quality of life improves. This will have a positive impact on those looking to buy property in Bangalore and settle down here.

All this along with the fillip given for affordable housing by way of an Affordable Housing Fund definitely mean good news for the real estate sector. 

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Created on Feb 27th 2018 00:56. Viewed 378 times.

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