G Raghavan CEO Bhartiya City Developers Pvt. Ltd On The Budget
The regularised real estate sector which has been showing signs of recovery has witnessed an improved business environment in recent times. Sensing the robust pent-up demand, the market has gradually aligned itself to affordable housing – thanks to the government which has until now encouraged the growth of the segment through a slew of measures. G Raghavan, CEO Bhartiya City Developers Pvt. Ltd on the upcoming budget. His expectation for the real-estate industry.
What expectations do you have from govt in the upcoming budget?
The industry will have started with measures that reduce input cost and boost growth of the sector be it residential, commercial or infrastructure. In that case easing of land acquisition procedures and action of single window permission will be of great help to the industry.
How past one year has been for Real Estate industry?
Real Estate Industry has been grappling with multiple factors such as demonetization, GST & RERA. Definitely these steps have brought in more transparency, regulation and much required streamlining in the real estate sector benefiting both the developers and home buyers.
How satisfied are you with Modi govt and its all 5 previous budget? Why?
The recent years have witnessed actions towards positive economic growth, affordable housing and infrastructure push. Also, in the long term GST and RERA will prove to be helpful. However, more supportive actions to reduce the input costs, minimize bureaucracy and far growth in the real estate sector are essential.
How do you see GST in the real estate sector?
GST has to move in such a way that the net incident of input cost be reduced. Only then the real potential of real estate industry and its contribution to the country’s economy will be felt completely.
Home prices have increased over the past, do you think budget should incentivise home purchases for developers to get more business?
Budget should certainly focus on reducing cost of input and encourage investment in the sector. This will over all help the real estate sector which in the long term will help in making the prices more affordable for the consumer.
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