Comments from Mr. Pradeep Jain, Chairman, Parsvnath Developers on Rail Budget

New Delhi, Mar 03, 2015

“We welcome Honourable Railways Minister’s decision on monetising railway land. This will have a direct advantage to real estate sector as more land parcels in prime locations will be available for development under public-private partnership. However, government should also work towards forming a Single Window Clarence system for a fast-track approval and development of such projects. We are already developing one project in Sarai Rohilla region of National Capital on PPP model with Ministry of Railways and have already paid Rs 1,161.46 crore to the ministry.

Also, decision to hike freight rate for cement and steel would further push development cost upward and would have an adverse effect on overall infrastructural growth. Honb’le Minister should reconsider this. Overall, it is good to see that government is focusing on strengthening existing systems by introducing several hi-tech mechanism. Also, not introducing any new trail is again a very brave move as it will avoid extra burden and would allow management revamp the Indian Railways freely.”