CW presents the next in a series of interviews with women who have made their mark in the building and construction sector. Her hands-on approach to work and entrepreneurial acumen have held Manju Yagnik in good stead over the past two decades.
The Mumbai Development Plan (DP) rejects statism, reliance on artificially created scarcities to raise resources, the culture of obtrusive bureaucratic control and, ideological policy-making. It is based on a new liberal paradigm and favours simplicity.
It’s a status Quo on the policy. Real Estate being one of the largest contributors to the GDP will not gain out of this policy. There will be no inflow of additional funds in this sector due to no relief in interest rates. Finance to the real estate sector has not been touched upon either.
The government’s move to promote affordable housing by setting up a special fund is welcome. It will boost buyers’ sentiments and help revive the real estate market. We expected the government to give industry status to real estate sector, though its efforts to support infrastructural development is laudable.
The implementation of GST has helped in mitigating the surging effect of taxes with construction services specifically being categorised as ‘supply of service’. It has also resolved long standing issues of valuation and nature of supply.
Apex real estate body NAREDCO, along with Nova Exhibitions & Conferences, has introduced iDAC, an initiative in lines with our Prime Minister Narendra Modi’s vision of coining the year April 2019-March 2020 as the ‘year of construction technology’.