Assam finance minister Ajanta Neog

In response to the Assam Budget 2024-25, Assam Real Estate & Infrastructure Developers Association (AREIDA) president PK Sharma lauded the government’s strategic allocations towards fostering growth and development across the state. Sharma highlighted various initiatives aimed at bolstering the real estate sector and enhancing urban infrastructure, which are poised to elevate the economic landscape of Assam.

A notable provision outlined in the budget is the introduction of the innovative 10 cities development concept, coupled with the continuation of flagship schemes such as the Apun Ghar Scheme and the construction of 13,000 houses under the MMAY. These endeavours, alongside efforts under the PMAY (G), are expected to significantly contribute to the augmentation of real estate value statewide.

Moreover, the budget places a strong emphasis on road and urban infrastructure development, with substantial allocations directed towards projects supported by the Urban Infrastructure Development Fund (UIDF), City Infrastructure Development Fund, and CITIIS 2.0. The creation of an industrial township at Jagiroad, in collaboration with the Guwahati Metropolitan Development Authority and Assam Industrial Development Corporation, promises to further boost real estate prospects in the outskirts of Guwahati.

Plans to establish satellite townships around Guwahati and relocate the wholesale market at Fancy Bazar to alleviate congestion and stimulate commercial activity have been hailed as positive steps. The allocation of Rs 3084.59 crore to the Housing and Urban Development Department has also been welcomed by stakeholders.

Additionally, the mandatory implementation of rooftop solar panels in both private and public housing aims to harness renewable energy sources effectively. The budget further earmarks funds for the Global Investors Summit scheduled for November 2024, indicating the government’s commitment to fostering entrepreneurship and supporting local startups, thereby generating employment opportunities.

Of particular note is the proposed Amrit-GiG city, spanning 1000 acres and designed to integrate world-class infrastructure for next-generation industries, alongside modern residential and social amenities. This ambitious project underscores the government’s forward-looking approach towards sustainable development and economic growth.

In summary, the Assam Budget 2024-25 has been lauded by stakeholders for its growth-oriented provisions, particularly in the real estate and infrastructure sectors, setting the stage for a transformative period of progress and prosperity in the state.

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