The Government’s decision to build 100 Smart Cities as well as the likelihood of tax incentives in the upcoming Union Budget of 2014-15 have created a groundswell of optimism for realty stakeholders – Mr Vineet Relia – Managing Director, SARE Homes

Jan 02, 2014

“As the world welcomes New Year 2015, SARE Homes believes the headwinds of 2014 will dissipate in the days ahead, ensuring turnaround cheer for the real estate industry and the Indian economy. With a ‘can-do’, proactive Prime Minister at the helm, the Government clearly means business in setting the economy on the fast track to high GDP growth. This is evidenced by the Union Cabinet approving an Ordinance to amend the Land Acquisitions Act, which had hobbled the housing sector and Indian industry recently. Hopefully, the revised rules may later apply to the entire realty industry and additional sectors, rather than only to five critical segments. Although real estate stayed sluggish in 2014, this was also due to the overall subdued economic sentiment, with the mood being further dampened by high interest rates. But as inflation has eased drastically recently, RBI may be poised to lower interest rates in the first quarter, providing an immense fillip to the realty industry and the Indian economy. Moreover, the Government’s decision to build 100 Smart Cities as well as the likelihood of tax incentives in the upcoming Union Budget of 2014-15 have created a groundswell of optimism for realty stakeholders. SARE Homes will capitalize on these opportunities by building best-in-class homes in key cities (such as Gurgaon, Chennai, Navi Mumbai, Amritsar, Indore, Ghaziabad and others) that are smarter, comfortable and convenient for end-users, while providing equal opportunities for investors to benefit from the resultant upswing in sentiment. The consequent turnaround should help developers reduce inventory levels in 2015.”
K. Altaf, Managing Editor, Corporate Comm India