+
Measures to help sustain developers in a new environment has been delayed
Real Estate

Measures to help sustain developers in a new environment has been delayed

Tata Realty and Infrastructure is a 100 percent subsidiary of Tata Sons. With Budget 2020 around the corner, Sanjay Dutt, Managing Director & CEO, Tata Realty and Infrastructure, shares his expectations:

"Like last year, the Budget may have some high points, but can it trigger GDP back towards 8 percent, revive consumption, sentiments, increase job security, add new jobs, revive investments, investor confidence and restore political leadership confidence. The answer lies in how we act as a nation beyond budget.

The government until now has done everything for the buyers but delayed measures to help sustain in a new environment when it comes to the developers. The Rs 250 billion stress fund and corporate tax reduction were concrete measures. We hope that Budget 2020 brings about tangible gains, revive demand and ensure the flow of liquidity to cater to the demand.

The state governments’ role is equally critical to supplement the Central Government’s efforts.

The Central Government can start with granting industry status to the real estate sector. States can give a single-window clearance mechanism for faster completion of projects. Reduce the cost of doing business besides ease of doing business, reduce the cost of capital to 5 percent to 6 percent, making real estate development more viable in the light of regulated inflation under 4 percent. As seen with several of the previous reforms, the benefits remain to be passed on to the homebuyers and it is crucial for this year’s budget to incorporate some relief for taxpayers by easing the tax on house property income. Increase the deduction for interest on housing loans to at least Rs 5 lakh would also help tremendously in boosting the demand. We are optimistic that the market will gain momentum in a period of about three to five years, provided the government continues the introduction and execution of these economic reforms to enhance the sentiments of the industry and reduce the burden on homebuyers while encouraging investments and development.”

Tata Realty and Infrastructure is a 100 percent subsidiary of Tata Sons. With Budget 2020 around the corner, Sanjay Dutt, Managing Director & CEO, Tata Realty and Infrastructure, shares his expectations: Like last year, the Budget may have some high points, but can it trigger GDP back towards 8 percent, revive consumption, sentiments, increase job security, add new jobs, revive investments, investor confidence and restore political leadership confidence. The answer lies in how we act as a nation beyond budget.The government until now has done everything for the buyers but delayed measures to help sustain in a new environment when it comes to the developers. The Rs 250 billion stress fund and corporate tax reduction were concrete measures. We hope that Budget 2020 brings about tangible gains, revive demand and ensure the flow of liquidity to cater to the demand. The state governments’ role is equally critical to supplement the Central Government’s efforts.The Central Government can start with granting industry status to the real estate sector. States can give a single-window clearance mechanism for faster completion of projects. Reduce the cost of doing business besides ease of doing business, reduce the cost of capital to 5 percent to 6 percent, making real estate development more viable in the light of regulated inflation under 4 percent. As seen with several of the previous reforms, the benefits remain to be passed on to the homebuyers and it is crucial for this year’s budget to incorporate some relief for taxpayers by easing the tax on house property income. Increase the deduction for interest on housing loans to at least Rs 5 lakh would also help tremendously in boosting the demand. We are optimistic that the market will gain momentum in a period of about three to five years, provided the government continues the introduction and execution of these economic reforms to enhance the sentiments of the industry and reduce the burden on homebuyers while encouraging investments and development.”

Next Story
Infrastructure Transport

MMRDA Installs 325-Tonne Steel Spans on Mumbai Metro Line 4

The Mumbai Metropolitan Region Development Authority (MMRDA) has achieved a key construction milestone on Metro Line 4 with the successful installation of three large steel spans at Bhandup West during overnight operations.The spans, together weighing 325 metric tonnes, were launched using eight heavy-duty cranes and 12 multi-axle vehicles. The operation required precise engineering and meticulous planning to minimise disruption in the densely populated suburban area.Due to effective inter-agency coordination, the work—originally scheduled across four nights—was completed within just two n..

Next Story
Infrastructure Transport

CMRL Targets March 2027 Opening for Vadapalani–Panagal Park

Chennai Metro Rail Limited (CMRL) is progressing as scheduled to open the Vadapalani–Panagal Park section of Phase II’s Corridor 4 by March 2027. The 3.5 km underground stretch is part of the 26.1 km Corridor 4 connecting Lighthouse with Poonamallee Bypass.Construction activities are advancing steadily, with tunnelling works between Vadapalani and Panagal Park already completed. Track-laying operations are expected to commence shortly. At Panagal Park station, structural works have reached the concourse and platform levels, while excavation continues at the lowest level.CMRL is also consid..

Next Story
Infrastructure Transport

Maha-Metro Invites Pune Metro Civil Maintenance Bids

Maharashtra Metro Rail Corporation Limited (Maha-Metro) has invited bids for the annual civil maintenance contract of the Pune Metro Rail Project. The tender, bearing ID and number P1-O&M-20/2025, is scheduled to close on 23 February 2026, with a pre-bid meeting slated for 10 February 2026. The earnest money deposit (EMD) for the contract is Rs 3,50,500, and the duration of the contract is one year.The scope of work includes annual civil maintenance of 28 elevated and underground stations, 28.079 km of elevated viaduct including steel bridges, 12.15 km of tunnels, and two depots under the ..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Open In App