India ups rank from 52nd to 27th for construction permits: World Bank
Real Estate

India ups rank from 52nd to 27th for construction permits: World Bank

India is among the top 10 economies where business climates improved the most, as per the World Bank’s Doing Business 2020 report. The country saw its ranking in the World Bank’s ‘Ease of Doing Business’ index jump to 63 for 2018-19 from 77 in the previous year. And, this is the third time India featured on this list. In fact, among South Asian countries, India continues to be the region’s top ranked economy.

The 10 areas measured in the report are: Starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting minority investors, paying taxes, trading across borders, enforcing contracts, and resolving insolvency. An additional area of employing workers is also measured but is not included in the rankings.


Here’s a glimpse of where India stands under the above mentioned parameters:

Parameter

2020 Rank

2019 Rank

Starting a business

136

137

Dealing with construction permits

27

52

Getting electricity

22

24

Registering property

154

166

Getting Credit

25

22

Protecting Minority Investors

13

7

Paying Taxes

115

121

Trading across Borders

68

80

Enforcing Contracts

163

163

Resolving Insolvency

52

108

Overall

63

77

Commenting on the India’s ranking, Sangeeta Prasad, Managing Director & CEO, Mahindra Lifespace Developers, said, “India’s advancement in the World Bank's Ease of Doing Business rankings for the third year in a row reflects the government’s efforts and commitment towards long-lasting economic reform. We expect the jump in rankings will attract investments in the near future.”

Added Rakesh Reddy, Director, Aparna Constructions & Estates, “India has enacted many policy interventions over the past few years, especially in real estate, which undoubtedly has a far-reaching impact on India’s overall economic performance. These transformative reforms have resulted in India improving 14 places to rank 63rd in the World Bank Ease of Doing Business ranking. The Real Estate Regulatory Act (RERA) has revived consumer confidence and laid the foundation for massive growth. RERA has the potential to be the most significant among these reforms. The reduction in GST on under-construction properties and affordable housing has also had positive implications for the sector.”

India is among the top 10 economies where business climates improved the most, as per the World Bank’s Doing Business 2020 report. The country saw its ranking in the World Bank’s ‘Ease of Doing Business’ index jump to 63 for 2018-19 from 77 in the previous year. And, this is the third time India featured on this list. In fact, among South Asian countries, India continues to be the region’s top ranked economy. The 10 areas measured in the report are: Starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting minority investors, paying taxes, trading across borders, enforcing contracts, and resolving insolvency. An additional area of employing workers is also measured but is not included in the rankings. Here’s a glimpse of where India stands under the above mentioned parameters: Parameter 2020 Rank 2019 Rank Starting a business 136 137 Dealing with construction permits 27 52 Getting electricity 22 24 Registering property 154 166 Getting Credit 25 22 Protecting Minority Investors 13 7 Paying Taxes 115 121 Trading across Borders 68 80 Enforcing Contracts 163 163 Resolving Insolvency 52 108 Overall 63 77 Commenting on the India’s ranking, Sangeeta Prasad, Managing Director & CEO, Mahindra Lifespace Developers, said, “India’s advancement in the World Bank's Ease of Doing Business rankings for the third year in a row reflects the government’s efforts and commitment towards long-lasting economic reform. We expect the jump in rankings will attract investments in the near future.” Added Rakesh Reddy, Director, Aparna Constructions & Estates, “India has enacted many policy interventions over the past few years, especially in real estate, which undoubtedly has a far-reaching impact on India’s overall economic performance. These transformative reforms have resulted in India improving 14 places to rank 63rd in the World Bank Ease of Doing Business ranking. The Real Estate Regulatory Act (RERA) has revived consumer confidence and laid the foundation for massive growth. RERA has the potential to be the most significant among these reforms. The reduction in GST on under-construction properties and affordable housing has also had positive implications for the sector.”

Next Story
Real Estate

Mahindra Lifespaces Bags Rs 12.5 billion Redevelopment in Mulund

Mahindra Lifespace Developers (MLDL), the real estate and infrastructure development arm of the Mahindra Group, has been appointed as the preferred developer for the redevelopment of a premium housing society in Mulund (West), Mumbai. The project will be developed across a 3.08-acre land parcel, with an estimated development value of approximately Rs 12.5 billion. Strategically located, the site enjoys proximity to major connectivity points—just 1.4 km from the upcoming Mumbai Metro Line 5 and 0.8 km from the Goregaon-Mulund Link Road. It also offers seamless access to the Eastern Expre..

Next Story
Infrastructure Urban

Snowman Adds Warehouses in Kolkata and Krishnapatnam

Snowman Logistics, India’s leading integrated temperature-controlled logistics company, has announced the commencement of operations at its two new state-of-the-art, owned cold storage facilities in Kolkata and Krishnapatnam. With these additions, the company’s total pallet capacity has reached 1,50,754, spanning 43 warehouses in 20 cities across the country. The newly operational Kolkata facility offers a storage capacity of 5,630 pallets, while the Krishnapatnam facility holds 3,927 pallets. These warehouses are equipped with advanced automation and infrastructure designed to enhanc..

Next Story
Resources

Noesis Enables IHCL Hotel Deal in Udupi–Manipal Corridor

NOESIS Capital Advisors, India’s leading hotel investment advisory firm, has successfully facilitated a landmark hospitality transaction in the Udupi–Manipal region of Karnataka. The deal involves the acquisition of a nearly completed, 130-key upscale hotel that will operate under one of the premium brands of IHCL, reinforcing NOESIS’ position as a preferred partner for strategic hospitality transactions across India. Strategically located on the Udupi–Manipal Highway, the 1.03-acre property will cater to business travellers, pilgrims and families visiting Manipal University. With..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?