For starters, just take a look at these facts and figures: In the past decade, Rs 99,805 crore has been invested in infrastructure in Gujarat, and the investment planned for the next decade is Rs 1,180,912.
The Monetary Policy Committee (MPC) review meeting has concluded, announcing no policy rate change (repo rate stays at 6.25 per cent, the reverse repo rate at 6 per cent, and marginal standing facility rate at 6.5 per cent). It maintained its neutral monetary policy stance, but significantly softened its tone on inflation. Five out of six members were in favour of the monetary policy decision.
The Confederation of Real Estate Developers' Associations of India (CREDAI) is organising a New India Summit on November 9-10 at Nagpur to address the progress and issues faced by real estate developers from Tier-II, Tier-III and Tier-IV cities in the country. With the theme of ‘Small Towns, Big Capabilities’, CREDAI aims to realise the true potential of developers from non-metro cities to increase their contribution to the Indian real estate industry.
The main problem is that our rates of EPC are fixed while the government has proposed a slab of 18 per cent for EPC contracting, which is high. Thus, despite taking input credit, we will be affected by about 10-12 per cent.
The budget reaffirms continued focus on Infrastructure and programmes such as Smart City mission, AMRUT, NMCG, the Regional Connectivity Scheme (UDAAN) etc. as can be seen by increased outlay by 20% from the previous year. The key takeaway form this budget is the thrust on social and rural infrastructure including health, education, housing, agri-value chain and penetration of digital infrastructure.
There is absolutely no scope for correction once a developer fills his registration and hence, most of the developers waited till the end moment to ensure that all the specifics are met as per RERA. Hence, there has been an overwhelming response for RERA registration in last couple of days, says Jaxay Shah, President, CREDAI National.