Budget quote from Real estate players - Century & VBHC

Author(s): 

Quote from Mr.Ravindra Pai, MD, Century Real Estate: “We believe that with two of the most significant reforms which will contribute to the cleaning up of Real Estate in the long run which is the Demonetisation and implementation of RERA in the year 2016 as also the stated objective of Housing for all by 2022, we are at an inflection point with respect to the Real Estate industry. We are hoping that in this budget, the term affordable housing is clearly defined and also accorded "Industry Status". We would also like to see more spends as also concrete steps in the digitisation of land/property records which is in tune with the digital India vision of the PM. This will considerably reduce litigation, free up more lands in cities to make it more affordable and reduce project timelines which will directly translate to lower costs to the end consumer."

Quote from Mr.Ravi Ramu, CEO & MD, VBHC(Value & Budget Housing Corporation Private Limited): “We are anticipating the Budget with a heightened sense of expectation. The Finance Minister has a considerable opportunity in this Budget to enable the Affordable Housing segment to provide for what is unquestionably a huge potential to be fulfilled in our Country. There is a considerable lot of things that the Budget can open-up for our Affordable Housing segment. Our belief stems from a catalyst which will ease impediments like the present approvals regime, the undue burden of both direct and indirect taxes, the high finance costs for our customers and ourselves, etc. We are therefore optimistic as the morning of 1 February 2017 and the Budget approaches.”

Date: 
Friday, January 27, 2017