Union Budget Expectations – Ms Monica Malhotra Kandhari, Director, MBD Group, for Real Estate & Hospitality industry

Bengaluru, February 04, 2016: “The hospitality industry is instrumental in promoting India as a tourist destination and also essential for attracting investments into the country. The budget for 2016-17 must recognize this and make provisions to promote the sector. We expect the union budget to take steps to subsidize the spiraling cost of real estate in the country for development of hospitality projects . While the last budget had announced reits, not much has happened since then. The budget must take steps to such that all taxation benefits are available for reits as internationally prevalent . We also expect the budget to fulfill our long standing demand of giving infrastructure status to hospitality sector. This will help in bringing down our cost of funds amongst other benefits.”

Ms Malhotra is driving The MBD Group by taking powerful strides into Hospitality, real estate, retail and mall development ventures. Being an energetic entrepreneur, she handles all the key projects from start to finish, right from project planning to pre-opening and post-opening of hotels and malls. She has been directing the Group’s strategy very meticulously and is also responsible for branding, positioning and assisting in the expansion plans of MBD Group. Under her aegis, MBD Group forayed into hospitality sector about 12 years ago when it entered into a franchise agreement with Radisson Hotels & Resorts and opened their first maiden venture The Radisson Blu MBD Hotel, Noida. After successfully establishing the hotel in Noida, Ms Malhotra helped in repeating the success story with Radisson Blu Hotel MBD, Ludhiana- the first five star hotel of Ludhiana. Ms Malhotra has also introduced premium and luxury brands in the state of Punjab with MBD Neopolis, Ludhiana and Jalandhar – mixed use developments entailing five star Hotel, premium and luxury retail mall and a multiplex. The next category of mixed use development is coming up in Whitefield, Bangalore- MBD Zephyr, which houses luxury hotel and luxury service apartments. A new allure based on a timeless concept of unparalleled beauty & perfection, MBD Zephyr, is a dream project of the Group interpreting luxury in the true sense of the word.

Corporate Comm India(CCI Newswire)