evidence: The Cabinet has decided to further expand the Pradhan Mantri Awas Yojana and construct 3 crore additional rural and urban houses. This decision underscores the government’s commitment to addressing the housing needs… — Narendra Modi (@narendramodi) June 10, 2024 [...] The real estate industry applauds the maiden cabinet’s decision to sanction the construction of three crore additional rural and urban houses under the Pradhan Mantri Awaas Yojana (PMAY) scheme. Affordable housing development is a crucial step towards revitalizing the property market. As the real estate sector is the second largest employer in the country, the extension of the PMAY scheme will have a ripple effect on employment and economic growth indices. The construction of urban-rural houses in the backdrop of last-mile connectivity being established under mega infrastructure projects will allow us to explore a multitude of new untapped real estate markets. In addition, the industry emphasises the importance of upskilling labour to bridge the prevailing skill gap index. The government and private sector should align and reinitiate the extensive skill development program to provide better job opportunities for current unemployed workers. This, in turn, will result in improved socioeconomic conditions for all citizens.