Haryana RERA member highlights the need for fiscal discipline

11 Jul 2024 CW Team

Sanjeev Kumar Arora, a member of the Gurugram bench of Haryana regulatory authority, stated that no real estate project could fail if developers maintained financial discipline from the outset. Addressing Assocham's National Conference on the Changing Dynamics of Real Estate for Viksit Bharat, he advocated for a reduction in interest rates on home loans to stimulate demand. Arora emphasised, "I believe that if the promoter endeavours to uphold financial discipline from the beginning of the project and maintains a healthy debt-to-equity ratio, no project can fail." He highlighted the real estate sector's role in generating employment opportunities within the Indian economy. Regarding the need for interest rate rationalisation, Arora remarked, "There is a requirement to rationalise interest rates and lending rates, as lower lending rates encourage both investors and homebuyers to participate. Builders are also content delivering projects at minimal costs." Discussing the Real Estate (Regulation and Development) Act (RERA), Arora, a member of HRERA, mentioned that approximately 1,25,000 projects and 75,000 brokers have been registered nationwide since its enactment. Pradeep Aggarwal, Chairman of the National Council on Real Estate, Housing, and Urban Development at Assocham, underscored the sector's critical importance in positioning India as a leading economy. He added that real estate constitutes a market worth Rs 24 lakh crore and contributes approximately 13.8% to the GDP. Vineet Relia, Director of Urbanbriq Development Management Pvt. Ltd., cautioned about a potential downturn in the sector unless the government provides support in terms of affordability in the upcoming years.

Real Estate

26 Jun 2026

AGM Vijaylaxmi launches Sixty3 W.E. Bizpark

AGM Vijaylaxmi Group has launched Sixty3 W.E. Bizpark, a mixed-use commercial development in Goregaon East, Mumbai. The project includes contemporary office spaces and a high-street retail component designed to support businesses, retailers and professionals.Located along the Western Express Highway, Sixty3 W.E. Bizpark is planned as a G+25-storey commercial tower. It offers office spaces ranging from 545 sq ft to 3,200 sq ft, with a 3.60 metre floor-to-floor height aimed at improving spatial comfort, natural light and operational efficiency.The project features a high-street retail boulevard ..

Manglam Group to Develop Sheraton Hotel in Jaipur

Manglam Group has signed an agreement with Marriott International to develop a Sheraton hotel on the Jaipur–Ajmer Highway in Jaipur. The project will feature 220 keys and is being developed with an investment of around Rs 3.5 billion across more than 300,000 sq ft.The hotel marks Manglam Group’s third collaboration with Marriott International and forms part of its Rs 10 billion hospitality investment roadmap. The agreement was signed by Amrita Gupta, Director, Manglam Group and CEO, Manglam Spa and Resorts, and Rajeev Menon, President, Asia Pacific excluding Greater China, Marriott Interna..

India Warehousing Show 2026 opens at YashoBhoomi

India's warehousing, logistics, and supply chain ecosystem came together as the 15th edition of India Warehousing Show (IWS) 2026 opened at YashoBhoomi, India International Convention & Expo Centre (IICC), Dwarka, New Delhi on June 25 (Thursday). Organised by RX India, the three-day event will run from 25-27 June 2026, bringing together policymakers, industry leaders, technology providers, and supply chain professionals under one roof. It also features a two-day knowledge conference that will run alongside the exhibition. Inaugurated by Pankaj Kumar, Joint Secretary - Logistics, DPIIT..