The Haryana government, on February 23, 2023, presented a Budget of Rs 1.83 lakh crore for the FY 2023-24, marking an increase of 11.6% over the revised estimates of Rs 1.65 lakh crore. The state government allocated Rs 5,893 crore for urban development and housing sector, which is an increase of 11.1% over revised estimates for the FY 2022-23.
While presenting the Budget, chief minister Manohar Lal Khattar announced the establishment of two data centre parks in Haryana, one in Ambala and the second in Gurgaon. He also announced that in addition to the benefits offered by the Pradhan Mantri Awas Yojana, the Haryana government will also build 1 lakh houses during the financial year 2023-24.
During the Budget presentation, the CM proposed a scheme for settling the renewal fee arrears in the town and country planning department. He said, “The principal and interest of the renewal fee of Rs 3,600 crore is due to the town and country planning department of which Rs 2,000 crore is the interest. The scheme will provide a waiver of this outstanding interest.”
He added that if a licensee has taken a partial possession certificate, then he will have to pay only 10% of the principal amount of the outstanding renewal fee in lieu of interest, while the licensee of incomplete projects will have to pay only 25% of the renewal fee in lieu of interest. He also said that there is no proposal for imposing any fresh tax in the budget.
Khattar announced that three more metro links will commence in 2023-24. These include a metro link from Rejangla Chowk to Indira Gandhi International Airport in Delhi, the extension of a metro link from Southern Peripheral Road to Global City and Panchgaon via Manesar. The Bahadurgarh Metro will be extended up to Asaudha to connect with Haryana Orbital Rail Network and Kundli-Manesar-Palwal (KMP) Expressway, he further added. The Haryana government has also allocated Rs 5,408 crore for the development of railways, roads and highways.
Pradeep Aggarwal, founder and chairman, Signature Global (India) Ltd. said, “The infrastructure-related policies outlined in the Haryana Budget 2023 are both encouraging and empowering. The allocation of Rs 5,408 crore for roads, highways, and railways, along with the proposed construction of the Gurgaon metro and three other metro links in the region, is a game-changer for Haryana’s real estate sector. These mega infrastructure projects will not only enhance connectivity but also create new opportunities for the state’s economic growth and development. The infrastructural developments will also open up new avenues, making Haryana an even more attractive destination for real estate investments.”
Santosh Agarwal, CFO and executive director, Alpha Corp said, “The fourth Haryana budget presented by Chief Minister Manohar Lal Khattar announced a Metro connection from Rejangla Chowk to IGI Airport and the Southern Peripheral Road via Global City and Manesar. The proposed subway connection to Panchgaon is welcome news for Gurgaon. The city’s transportation system will be reinforced as a result of the government’s plan. The improved connectivity will not only enhance the city’s development but will generate new chances for the state’s economic growth which will further give impetus to the real estate sector of the region.”
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