Budget 2015 Wishlist: Infrastructure development paramount for realty

Mumbai | Updated: February 25, 2015 10:42:43 AM

Sunteck Realty Limited (SRL) is a Mumbai-based real estate development company, catering to the ultra-luxury and luxury residential segment...

budget 2015, budget 2015 india, budget 2015 expectations, budget 2015 wishlist, budget in indiaPacing up infrastructural development should be the primary focus of the government: Sunteck Realty Limited (Thinkstock)

Sunteck Realty Limited (SRL) is a Mumbai-based real estate development company, catering to the ultra-luxury and luxury residential segment. SRL touts a city centric development portfolio of about 25 million square feet spread across 24 projects at various stages of development and 4 rented assets.

Budget wishlist:

1.    Pacing up infrastructural development should be the primary focus of the government. Infrastructure is important when it comes to real estate development being viable not only in new micro markets but also in established micro markets that have witnessed stagnation on account of an infrastructure deadlock.

2.    Easing interest rate should be another primary focus of the union budget. Real estate industry would be positively affected by it as cutting down interest rates means an increased liquidity flow in the economy. Consequently, real estate will reap rich dividends. Moreover, if banks cut down the loan interest rate, buyers with disposable income would invest in the realty sector.

3.    Single window clearance system must be introduced. Due to complexities of government channels, many projects get halted and delivery is delayed. A speedy completion of stalled projects is essential.

4.    Clearer and loophole-free policies are shall be introduced. Frequent change in policies and regulations affect the construction. A clearer, faster and more transparent execution.

5.    Macro Investment Initiatives to Boost REIT’S and FDI that encourage and foster development of the country at large and usher in a demand and supply balance need to assume key focus stated Mr. Kamal Khetan, CMD, Sunteck Realty Ltd.

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