Infrastructure encompasses the whole spectrum of vital services such as roads, railways, civil aviation, shipping, power generation and transmission, telecommunications, postal facilities and urban development. Adequate infrastructure facilities are an absolute necessity for rapid achievement of sustainable economic growth.
As in all business cycles, the Indian hospitality sector is now trending upwards. Performance metrics like the Average Daily Rate (ADR) are showing positive signs of growth. However, the Supreme Court ban on liquor sales and the call for prohibition in some of the cities have not only forced existing players to review upcoming projects, but also impacted proposed investments and M&A transactions.
In September 2017, Niranjan Hiranandani, Chairman & Managing Director, Hiranandani Group, was elected the National President of the National Real Estate Development Council (NAREDCO). Under the aegis of the Ministry of Housing and Urban Affairs, NAREDCO works with the government to achieve its 'Housing for All' objective.
The GST Council’s decision to reduce the GST rates for under-construction residential housing projects will lead to marginal traction in demand and bring in more transparency for home buyers, according to India Ratings and Research (Ind-Ra).