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Mr. Niranjan Hiranandani, MD, Hiranandani Group

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"In last 45 days, more than 3500 apartments have been sold in Mumbai."

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The Hiranandani Foundation School Powai offers students to explore and tap into the resources of the world at large and at the same time trains the students to always keep in touch with the roots of Indian Culture.

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Hiranandani Leadership | Hiranandani Communities

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Hiranandani Communities is under the formidable leadership of Mr. Niranjan Hiranandani, who believes in sincerity and commitment as his success mantra.

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Niranjan Hiranandani has virtually revolutionized the real estate industry in the country.

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Apartments in Thane | Flats in Thane | New & Upcoming Residential Projects in Thane | Hiranandani Developers

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Hiranandani Developers has continually pioneered newer technologies, bold design and precision engineering to create landmark residential townships and commercial complexes.

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Hiranandani is talking business on a fun-filled weekend getaway. That is how we at Hiranandani Communities work.

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The Niranjan Hiranandani Group continues to transform city landscapes. We transformed this hillside quarry land into an integrated township of over 250 acres. Today, it is home to a thriving global community, living in harmony with nature.

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Bengal Global Business Summit Day 1: Industry leaders pledge Rs 17,000 crore in investments

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Bengal Global Business Summit Day 1: Industry leaders pledge Rs 17,000 crore in investments

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AT THE inaugural session of the fourth Bengal Global Business Summit, industry captains made an investment pledge of around Rs 17,000 crore to the Mamata government. Reliance Industries Limited Chairman Mukesh Ambani was the first to announce his company's plans for the state. Reliance plans to manufacture mobile phones and set-top boxes in Bengal and also invest Rs 5,000 crore in non-Jio businesses across the state in the next three years. Ambani said Reliance has already invested Rs 15,000 crore in Bengal in the last two years.

Sajjan Jindal of JSW Steel announced that his company will invest Rs 10,000 crore in Bengal. "We have made a blueprint to invest over Rs 10,000 crore over the next three to four years in various sectors besides steel, paint, expansion of cement and power," he said.

The chairman of R P Sanjiv Goenka Group, Sanjiv Goenka, announced that besides setting up a hospital in Kolkata, his company will invest Rs 1,000 crore in a power distribution network. "In Bengal, business is treated with dignity, respect, warmth and love. We feel wanted and loved. This is a government with a heart and I am committed to investing more here. We are investing in building a world-class hospital. It will be a new hospital attached to our existing one, Woodlands. We have been constantly investing in power," Goenka said.

He added: "In the next 18 months, we will invest another Rs 1,000 crore in power distribution network. We are committed to setting up an FMCG park in one of our properties. We are committed to building a new carbon black plant in Durgapur, in the area of speciality carbon. All these will begin very soon."

Steel baron L N Mittal assured that his family foundation, L N Mittal Foundation, will invest in Bengal if such an opportunity arises in the future. Spice Jet Chairman Ajay Singh said the company would explore the possibility of manufacturing sea planes in Bengal. He also announced that Spice Jet will start flights from Greenfield airport at Andal in Burdwan to Hyderabad and Bangalore. "We are exploring opportunities to fly sea planes in Bengal to boost tourism. The state has potential to turn it into a hub of sea planes, which will fly to Gangasagar and Sundarbans. We will also start flights from Kolkata to Chittagong and also in other ASEAN countries," he added.

Niranjan Hiranandani, chairman and managing director of realty firm Hiranandani Communities and chairman of H-Energy, said domestic gas connectivity will start in Kolkata within two years. "Gas shall come to Kolkata in the next 24 months. Our target is also to set up gas retail outlets in the next 36 months in at least five districts of Bengal and then in other states. Our next target is to provide gas to Bangladesh through Bengal... This is our desire and ambition for the next five years," he said.

Saroj Kumar Poddar, chairman of Adventz Group of companies, announced an investment of Rs 1,000 crore for Bengal. Kishor Biyani of Future Group and head of Kotak Mahindra Bank, Uday Kotak, praised the CM for turning the state into a new investment destination.

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Bengal Global Business Summit Day 1: Industry leaders pledge Rs 17,000 crore in investments

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AT THE inaugural session of the fourth Bengal Global Business Summit, industry captains made an investment pledge of around Rs 17,000 crore to the Mamata government. Reliance Industries Limited Chairman Mukesh Ambani was the first to announce his company's plans for the state.

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Budget wish-list: Realtors root for revision in GST rate, stamp duty removal

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Budget wish-list: Realtors root for revision in GST rate, stamp duty removal

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NEW DELHI: The Budget 2018-19 is some days away and industry participants are ready with their wish-lists that they believe could help pull the sector out of the woods.

On the developers' side, what tops the wish-list is a revision in GST rate. A buyer of an under-constructed property faces an effective GST rate of 12 per cent since it is considered as availing of services from the builder. But a sale of a completed property is not considered as rendering of services.

Surendra Hiranandani, CMD at House of Hiranandani, noted that before the GST launch, the applicable rate of service tax was around 4.5 per cent. Besides, a value added tax of 1 per cent used to be levied, resulting in total tax outgo of 5.5 per cent of the sales consideration, he said.

Credit Suisse, in a December note, said the price arbitrage between under-construction and fully constructed houses has gone up significantly due to GST tax, slowing down of sales of under-construction houses and squeezing of developers' balancesheets.

The demand for the sector remained sluggish, with seven top cities sitting on an unsold inventory of 6,85,000 housing units by the end of September quarter. As per Cushman & Wakefield, the housing sector witnessed a 35 per cent fall in new supply across eight major cities to about 74,000 units in 2017. Launches of low-cost homes rose a modest 6 per cent during the year.

"An increase in sales and decline in unsold inventory is likely. 2018 may witness new launches, but most of the developers will focus on completing their under construction projects. There is a need for more clarity on GST leading to better transparency in the sector." said Vineet Relia, Managing Director at SARE Homes.

Sumit Berry, Managing Director, BDI Group, too believes that a clarity on the applicable GST rate for the real estate sector is still needed.

RERA requirements have pushed back launches by developers who are unable to meet the eligibility criteria, Credit Suisse said.

On the other hand, rising inputs costs due to surge in cement and steel prices are seen pushing up property prices in 2018, the Confederation of Real Estate Developers' Association of India said.

Developers are also pushing for abolition of stamp duty, which continues to remain in force, even after implementation of GST.

"The rates vary from state to state which increases costs for the consumer. We hope that state governments abolish the same or merge with the existing GST rates," Hiranandani said.

Besides, under the GST regime, the input tax credit is available on taxes paid on materials bought for construction that can be adjusted against the GST liability. But the effective tax rate post adjustment is quite high compared with the old rate of 5.5 per cent, Hiranandani said.

Granting of infrastructure status to the real estate sector for the affordable housing sector was the biggest highlight of the 2017 Budget.

Kapil Wadhawan - Chairman WGC & CMD DHFL noted that the 2017 Union Budget had given a new impetus to the affordable housing sector and provided the players several reasons to cheer. The government announced a slew of incentives like increase in allocation from Rs 15,000 crore to Rs 23,000 crore for the Pradhan Mantri Awas Yojana, extending the time period of project completion from three to five years, and determining benefits based on carpet area instead of built-up area, among others.

"The affordable housing space is expected to turn into a Rs 6,00,000-crore opportunity by 2022. We are hoping that the streak of positive measures continues with this year's Budget. More specifically, Housing Finance Companies (HFCs) will be looking for reform changes with respect to raising funds," Wadhawan said.

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Budget wish-list: Realtors root for revision in GST rate, stamp duty removal

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NEW DELHI: The Budget 2018-19 is some days away and industry participants are ready with their wish-lists that they believe could help pull the sector out of the woods. On the developers' side, what tops the wish-list is a revision in GST rate.

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Will Budget 2018 make your dream home a reality?

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Will Budget 2018 make your dream home a reality?

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Niranjan Hiranandani
For India's real estate, 2018 comes with lots of hope - the regulatory changes that were made over the past few months have begun showing positive impact as regards higher levels of transparency and enhanced confidence on part of customers, and quantum of transactions is improving gradually. The Union Government has 'walked the talk" on some measures announced in the previous budgets, there are hopes that the forthcoming budget will help take things to the next level - so that initiatives take off and execution is expedited to ensure that for India's home seekers, their 'dream homes' become a reality.

The key expectations are listed below:

Industry status: Granting of industry status has been a long pending demand from the real estate sector and the last Budget saw affordable housing being given this status. The benefit of Industry status given to the affordable segment is apparent, and we need to extend this to all segments of real estate. In the upcoming Budget, with initiatives and incentives that are expected, we hope that industry status should be granted to the entire real estate sector which will help in creating surpluses in housing demand along with financing at the lower rate for long-term projects will be possible.

Rental Housing: In Indian cities, the share of rental housing in total urban housing stock is considerably low in comparison to the developed world where it is between 40-50 per cent. With the Indian economy poised to grow at 8-9 percent per annum and huge job opportunities in urban areas are expected, migration is unavoidable. We, therefore, need to construct more rental housing stock to deal with the looming housing shortage in Urban India, and hope the Budget will be conducive to the same.

Standard Deduction - Standard Deduction currently allowed is 30 per cent of the Net Annual Value of the house property. The industry body NAREDCO has appealed to increase the deduction from 30 per cent to 50 per cent to boost the demand.
Taxation:
=>Deduction of Interest on Home Loan for the property - In case one takes a home loan for the purchase, construction, repair, renewal or reconstruction of one's house property - the interest is allowed as a deduction from the Net Annual Value. Deduction for interest on money borrowed is allowed on an accrual basis. The total amount allowed towards this deduction is Rs 2,00,000 beginning assessment year 2015-16.

In case of a let out or a deemed to be let out property, the entire interest was allowed as a deduction under Section 24 of the Income Tax Act till FY 2016-17. From FY 2017-18 deduction for interest on let out the property was allowed only up to Rs 2 Lakh; which NAREDCO recommends to bring back original deduction under SEC 24 of entire interest amount.

Removal of Taxing Notional Rent - The Prime Minister Narendra Modi has given direction to create "Housing for All" by the year 2022. This necessitates the private sector to create surplus in housing stock, Section 23 of Income Tax Act is directly in conflict with aspirations of the Prime Minister as it disincentives the developer from producing surplus Housing Stock.

In Section 23 of the Income-tax Act, after sub-section (4), the following sub-section has been inserted with effect from the 1st day of April, 2018, namely:

"(5) Where the property consisting of any building or land appurtenant thereto is held as stock-in trade and the property or any part of the property is not let during the whole or any part of the previous year, the annual value of such property or part of the property, for the period up to one year from the end of the financial year in which the certificate of completion of construction of the property is obtained from the competent authority, shall be taken to be nil.".

The above provision penalises developers who completes the project on time but cannot sell units due to market scenario or inevitable economic circumstances and put these apartments on the rent, income from which is offered to tax. The housing sector has felt tremors of Tsunami's with reformation policies announced resulted in a slowdown in sales. Taxing notional rent will lead to serving financial implications.

Therefore it is suggested that entities engaged in real estate business should be exempted from burden of tax on notional rent income. Also, government can look upon extending the period of 1year to at least 5 years or government may give credit for tax paid on notional income at the time of actual sale of property if above case is not possible. This is in line with the PM's dream of housing for all and creating surplus housing on ownership and/or rental basis.

Rationalisation of GST: Speedy rationalisation of the tax structure with a uniform level of rates is the need of the hour. The real estate industry has urged the government to cap goods and services tax (GST) rate across the real estate sector to 6 per cent with Input tax credit, to help boost demand for housing. The real estate industry also expects the Budget to increase the abatement for the land cost to 50 per cent, from the existing 30 per cent, as the cost of land forms the most significant part of any real estate-project cost.
Conclusion:
If Finance Minister Arun Jaitley makes housing, infrastructure, and construction key issues for the Budget to focus on, the multiplier effect on the economy will be extremely positive. There are several aspects that have the potential to trigger growth in realty market and for that, the Budget and related policy changes will have to ensure that the advantages of economic policy changes and new regulatory regime are not diluted. Single window clearance system in place to expedite approvals, ease of doing business policies and Infrastructure boost for perennial job creation is mandated for economic growth traction.

The author Hiranandani is Founder & CMD, Hiranandani Communities. He is also President, National Real Estate Development Council.

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Will Budget 2018 make your dream home a reality?

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Niranjan Hiranandani For India's real estate, 2018 comes with lots of hope - the regulatory changes that were made over the past few months have begun showing positive impact as regards higher levels of transparency and enhanced confidence on part of customers, and quantum of transactions is improving gradually.

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Dr Niranjan Hiranandani exclusive on Budget expectation 2018- CNBC Bajar

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Dr Niranjan Hiranandani exclusive on Budget expectation 2018- CNBC Bajar

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Dr Niranjan Hiranandani exclusive on Budget expectation 2018- CNBC Bajar

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Dr. Niranjan Hiranandani -Co Founder & MD Hiranandani Group & NAREDCO National President shares his budget 2018 recommendations and expectation for the corporates and the end user -CNBC Bajar

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(From left) L N Mittal, chairman and CEO, ArcelorMittal, Mamata Banerjee, chief minister of West Bengal, and Mukesh Ambani, chairman, Reliance Industries, at the Bengal Global Business Summit in Kolkata on Tuesday Photo: Subrata Majumder

Uday Kotak, executive vice chairman and managing director of Kotak Mahindra Bank, said that in the 1980s, there was a problem with the mindset in the east, and that the west was considered to be the preferred investment destination. "But from what I have seen in Representation from the central government was, however, missing at the summit. In 2016, four key ministers from the Centre - Arun Jaitley, Piyush Goyal, Nitin Gadkari, and

It had all the makings of a great investment summit: A galaxy of stars from India Inc and beyond, a venue spread across 4.5 million square feet with an auditorium to seat 3,200 people, and industrialists acknowledging a positive change in The first day of the two-day Her spirit was matched by industrialists. "Didi, under your leadership, West Reliance has emerged as a major investor in Going forward, it will be working with multiple partners to explore setting up next generation state-of-the-art electronics manufacturing facilities and make West Bengal under Chief Minister Bengal Global Business Summit turned out to be a massive show of strength for Banerjee, who had personally invited many of them. Among those from outside the city were L N Mittal, chairman and CEO, ArcelorMittal; Mukesh Ambani, chairman and managing director, Reliance Industries; Sajjan Jindal, JSW Group chairman; Niranjan Hiranandani, MD of Hiranandani group; and Kishore Biyani, founder and CEO, Future Group. Bengal is becoming Best Bengal," Ambani said. Bengal. In the past two years, it has invested more than Rs 150 billion, that's triple of what it committed. Most of this investment was used in creating the Jio network. Bengal a hub for innovation and hi-tech technologies for consumer devices, such as mobile phones and set-top boxes. In addition, an investment of Rs 50 billion was announced in Jio and the entire digital ecosystem, retail and petro-retail in the next few years. Sajjan Jindal narrated his experience in Bengal and urged investors to make the state their first choice for investment. Mamata Banerjee. Banerjee wooed investors and made it clear she meant business. "We can dedicate ourselves to you. We don't allow strikes even when it comes to our own partymen. We have to protect our asset, and industry is our asset," she said.
Mittal didn't commit any major investment in the immediate term, but said, "The initiatives I'm aware of, combined with Didi's leadership and vision, lead me to feel very optimistic about the outlook for the state. The future is in your hands and I hope I will also be able to contribute in some meaningful way." Bengal and Kolkata, that mindset has, hopefully, changed forever," he said, adding that his bank was a net lender to SpiceJet is keen to not only have a "sea-plane hub in West Bengal" but to look for manufacturing opportunities also of this variant of airplanes in the state. The company's chairman, Ajay Singh, added, "We are looking at connecting China and other Asian countries from Kolkata." Bengal and that would continue. Suresh Prabhu - were present.
He has committed Rs 100 billion in the next few years in cement, paints and steel businesses. Banerjee inaugurated Jindal's cement plant at Salboni in West Medinipur on Monday.
Sanjiv Goenka, chairman of the RP-Sanjiv Goenka Group, who has already invested over Rs 200 billion in the state, assured of further investment in the state. The group will build a second world-class hospital beside its existing medical centre, Woodlands, and will be setting up an FMCG park in the city. A new carbon black plant will also be set up in Durgapur and around Rs 10 billion will be invested to strengthen its existing power distribution network.

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Bengal Business Summit: Investments galore as Ambani, others throng event

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(From left) L N Mittal, chairman and CEO, ArcelorMittal, Mamata Banerjee, chief minister of West Bengal, and Mukesh Ambani, chairman, Reliance Industries, at the Bengal Global Business Summit in Kolkata on Tuesday Photo: Subrata Majumder Uday Kotak, executive vice chairman and managing director of Kotak Mahindra Bank, said that in the 1980s, there was a problem with the mindset in the east, and that the west was considered to be the preferred investment destination.

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Bengal means business! JSW to invest Rs 10k cr, and RIL Rs 5k cr in the Mamata Banerjee-led state

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Bengal means business! JSW to invest Rs 10k cr, and RIL Rs 5k cr in the Mamata Banerjee-led state

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Bengal means business! JSW to invest Rs 10k cr, and RIL Rs 5k cr in the Mamata Banerjee-led state

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Ambani's Rs 5,000-crore investment in a non-Jio business would include setting up oil sector retail outlets in the next three years. He said in the business summit of 2016 he committed investment of Rs 4,500 crore in the state.

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Loosened: praise-stringsAmbani's 'Best Bengal' meets Hiranandani's 'super ke upar'; specifics awaited

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Loosened: praise-stringsAmbani's 'Best Bengal' meets Hiranandani's 'super ke upar'; specifics awaited

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HIGH TIME: (From right) Mukesh Ambani, Mamata Banerjee, Lakshmi Niwas Mittal, Sajjan Jindal and Uday Kotak at the inaugural session of the Bengal Global Business Summit at the Biswa Bangla Convention Centre in Rajarhat on Tuesday. Picture by Sanjoy Chattopadhyaya

Newtown: The score at stumps on Day One of the Bengal Global Business Summit: Bengal 1, the event 1 and Mamata Banerjee 1 plus 1 plus 1.

If Mukesh Ambani described West Bengal as "Best Bengal", Niranjan Hiranandani conferred the title of "super ke upar (better than the best)" on the chief minister who in turn certified the summit "top of the top".

"This year's summit is top of the top," the chief minister told reporters after the end of the day's programme. "This is a cause for pride for the people of Bengal as people are praising the state," she added.

Mamata had earlier wrapped up her speech in 17 minutes - brief by her standards - but sources in the government said she wanted the guests to do all the talking.

Ambani, the chairman of Reliance Industries, did not let her down: "Didi, under your leadership, West Bengal is becoming Best Bengal."

Ambani made the statement after describing as "word class" the Biswa Bangla Convention Centre, the venue of the summit that was attended by around 2,500 people.

Then came the compliment of the day from Hiranandani, co-founder and managing director of the Hiranandani Group, and a self-confessed sceptic-turned-admirer of Bengal.

"When my son came to Bengal for business, I said 'no, no, no'.... But then, my opinion changed. You are not the best chief minister, you are super ke upar," he said, before referring to Bengal as the "best place to invest".

Lavish praise for the political leadership from participants in business summits is not unusual. But a city-based industrialist pointed out later: "All these people have businesses across the country and they also have to deal with the BJP-led Centre.... Still, they are praising a sworn enemy of the BJP. You cannot call these sweet nothings."

No one represented the central government this time.

While words of praise from captains of industry are important for a state like Bengal that is desperately scouting for investments, the proof of the state's attractiveness will lie in specifics and money the investors will eventually put where their mouths are.

On that count, Day One did not produce much as not too many details were spelt out. The announcements included Ambani's commitment to make Bengal a digitally smart state through Reliance Jio and Rs 5,000 crore non-Jio investments, Sajjan Jindal's promise to pump in Rs 10,000 crore in the next three to four years (which has been in the pipeline for some time) and Sanjiv Goenka's commitment to invest Rs 1,700 crore.

"The MoUs will be signed tomorrow (Wednesday) and you will get to know how successful the summit is in terms of attracting investments," said finance and industries minister Amit Mitra. He hinted at some policy announcements on Wednesday.

"When people like Ambani and L.N. Mittal come, you know that they have come for some reason," he added. Mittal did not announce any investment initiative for Bengal but he committed to include Bengal in the activities of Lakshmi and Usha Mittal Foundation.

In terms of participation, the list of those who shared the dais with Mamata could not have been more impressive. Other than Ambani, Lakshmi Mittal, Hiranandani and Jindal, the opening session drew Aloke Lohia of Indorama Corporation, Uday Kotak of Kotak Mahindra Bank, Ajay Singh of SpiceJet and Kishore Biyani of the Future Group.

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Newtown: The score at stumps on Day One of the Bengal Global Business Summit: Bengal 1, the event 1 and Mamata Banerjee 1 plus 1 plus 1. If Mukesh Ambani described West Bengal as "Best Bengal", Niranjan Hiranandani conferred the title of "super ke upar (better than the best)" on the chief minister who in turn certified the summit "top of the top".

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Hiranandani to pump in Rs 7,000 crore for green energy in Bengal

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Hiranandani to pump in Rs 7,000 crore for green energy in Bengal

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KOLKATA: After limited success in coal bed methane (CBM) exploration, Bengal may finally get access to sufficient green energy. Courtesy, Hiranandani group. The project, conceived in 2015, had some initial hiccups but now founder of the group Niranjan Hiranandani is confident that the first phase can start in two years from now.

Hi Energy (P) Ltd, the energy arm of the group, is planning to set up an offshore LNG terminal near Digha coast to bring gas in Bengal and eastern states. The total investment in the project will be over Rs 1,200 crore in first phase which is likely to scale up to Rs 7,000 crore in next few years. Hiranandani told TOI that it has tied up with K-Link, the second largest shipping company in Japan for importing LNG (liquified natural gas). Besides, it has got around 40 acres in Haldia for the project from Kolkata-based Sarda Group of Ghanshyam Sarda.

"We are proud to be a part of a project which would be of great importance for our state," said Sarda.

Hiranandani said it's planning to build and operate a world-class floating storage re-gasification unit with the ultimate capacity of 6 million tonne per annum. This unit will gasify liquid gas.

Hiranandani was confident that within two years Kolkata will get clean gas. "We are confident to do it in 24 months. We are already implementing such project in est coast and it is well on schedule. Initially we are investing in offshore vessels and connecting offshore with onshore through pipeline," he added. According to him, in the second phase it's planning to roll out city gas distribution in four other cities - Durgapur, Asansol, Haldia and Siliguri.

"We will connect five cities in 36 months," he added. Hiranandani also indicated that once production crosses critical level, the company is planning to supply green fuel to vessels plying on river.

"Being an essentially offshore project, the land requirement for it is nominal. This operation will also not interfere with the marine life," an official said.

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Hiranandani to pump in Rs 7,000 crore for green energy in Bengal - Times of India

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KOLKATA: After limited success in coal bed methane (CBM) exploration, Bengal may finally get access to sufficient green energy. Courtesy, Hiranandani group. The project, conceived in 2015, had some initial hiccups but now founder of the group Niranjan Hiranandani is confident that the first phase can start in two years from now.

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Niranjan Hiranandani says successful people are like Ambassadors, Fiats from 90s Mumbai

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Niranjan Hiranandani says successful people are like Ambassadors, Fiats from 90s Mumbai

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Niranjan Hiranandani says successful people are like Ambassadors, Fiats from 90s Mumbai

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The real estate honcho said that the only way to stay ahead in the game is to adapt to change.

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Dr. Niranjan Hiranandani exclusive on Budget 2018 -CNBC Tv18

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Dr. Niranjan Hiranandani exclusive on Budget 2018 -CNBC Tv18

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Dr. Niranjan Hiranandani exclusive on Budget 2018 -CNBC Tv18

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Dr. Niranjan Hiranandani Co-founder & MD Hiranandani Group & NAREDCO National President opines on budget 2018 wish list in reference to Indian Real Estate sector - CNBC TV- 18

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Time bound infrastructure development to redefine realty landscape in Thane

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Time bound infrastructure development to redefine realty landscape in Thane

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Thane has emerged as one of the key realty markets in Mumbai backed by a slew of infrastructure projects and employment opportunities for working populace.

The success story of upmarket suburb 'Thane' is co-scripted with a slew of infrastructure projects, better transportation, employment opportunities, existence of plush socio infrastructure and amenities to rejoice one's living. Today, the area rightly tops the league as the flourishing epicenter of Metropolitan region owing to rapid residential development catering to the need for affordable and luxury housing.With galore of options available to investors for higher returns on investment and a slew of infrastructure projects, it has prominently evolved as a preferred choice of destination.

Over the past few years, Thane rightly referred as a Twin City has outgrown other suburb micro markets. The contributory factors to the growth story are as follow- a tremendous improvisation of civic infrastructure like widening of well-paved roads, building of flyover and foot over bridges, power station etc; astounding developments in residential segment complimented with the relocation of commercial hubs, excellent retail chains is been spotted out with right ecological balance. Thus, overall living at micro markets such AS Ghodbunder road, Pokhran Road, has attracted homebuyers in quest of a better standard of living. With the relocation and housing of many corporates like Raymond, Cadbury, Bayer etc it has become the focal point facilitating 'Walk to Work' concept aided with a quality of life. Full fledge operational recently inaugurated India's largest commercial giant Tata Consultancy Service at Hiranandani Estate, Ghodbunder road houses 25 thousand employees which is yet another feather on the cap.

Centrally located, Thane enjoys unparalleled connectivity to Central, western and Harbour suburbs of Greater Mumbai & MMR regions. Besides as infrastructure projects such as flyovers and road linkage projects as being necessary for real estate development in Thane and the MMR. Thus, the aspect of Metro conn tivity, had the potential to be the largest paradigm change in terms of transport linkages and connectivity within Thane as also to successfully handle increased commuter traffic to Thane from across the MMR.

In the context to the Thane's real estate development, development of multiple cross transport Metro lines is quintessential to deal with an enhanced number of the commuter influx on daily basis. However, Metro 4 will connect Wadala-Ghatkopar-Kasarvadavali, Metro 5 is proposed to link Thane-Bhiwandi-Kalyan road and Metro 11 to connect Taloja in Navi Mumbai to Kalyan via Thane." These 3 major metro lines will redefine ease of commute to Thane making most preferred destination".

The relocation and consolidation of corporate offices and work spaces spread over different locations in Mumbai city and suburbs to Thane's Ghodbunder Road reflects the increasing attractiveness of Thane's commercial real estate. To successfully handle the increase in commuter traffic in the future, enhanced connectivity through these Metro rail corridors will make Thane ideal for corporates to follow the TCS lead, to expand in Thane. While Real Estate growth in Thane will be a result of time-bound Infrastructure development, the Metro linkage will play a key role.

Disclaimer: The views expressed in the article are solely of the author and may not represent 99acres.com's opinions on the subject. 99acres.com does not take responsibility for any actions taken based on the information shared by the author.

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Time bound infrastructure development to redefine realty landscape in Thane

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Thane has emerged as one of the key realty markets in Mumbai backed by a slew of infrastructure projects and employment opportunities for working populace. The success story of upmarket suburb 'Thane' is co-scripted with a slew of infrastructure projects, better transportation, employment opportunities, existence of plush socio infrastructure and amenities to rejoice one's living.

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Budget 2018: Real Estate sector welcome Arun Jaitley’s vision for New India

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Budget 2018: Real Estate sector welcome Arun Jaitley’s vision for New India

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Budget 2018: Real Estate sector welcome Arun Jaitley's vision for New India - The Financial Express Union Budget 2018: With a keen eye on the 2019 Lok Sabha, Finance Minister Arun Jaitley presented the much-awaited budget 2018 earlier today in the Lok Sabha. Speaking on the same are the hot-shot of real estate sector, check out the reaction.

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Budget 2018: Real Estate sector welcome Arun Jaitley's vision for New India

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Union Budget 2018: With a keen eye on the 2019 Lok Sabha, Finance Minister Arun Jaitley presented the much-awaited budget 2018 earlier today in the Lok Sabha. Speaking on the same are the hot-shot of real estate sector, check out the reaction.

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Budget reactions: What business leaders have to say about Arun Jaitley’s speech

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Budget reactions: What business leaders have to say about Arun Jaitley’s speech

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Business leaders and companies are reacting after Finance Minister Arun Jaitley presented the 2018/19 Union Budget that focused on funds for rural infrastructure and unveiled a health insurance programme for around 500 million poor. Here are reactions to the .
Abheek Barua, chief economist, HDFC Bank
"Under normal circumstances, a modest slippage in the fiscal deficit this year and the deviation from earlier outlined target of 3.0% would seem fair and sensible. But given the current nervousness in the bond market perhaps a more aggressive fiscal consolidation was required.

While more extensive and higher insurance coverage for poorer families is welcome, its funding remains an open question. One has to see whether the targets set for receipts are credible. Prima facie at least the GST collection target seems reasonable."
Chanda Kochhar, MD and CEO, ICICI Bank
"The Union Budget 2018-19 has done a commendable job in holistically addressing the various priorities of the Indian economy. It has addressed social sector priorities and charted out a clear plan to boost infrastructure, while maintaining fiscal discipline."
Vivek Gambhir, MD and CEO, Godrej Consumer Products Limited.
"This aam aadmi rural focused budget to build 'New India', reinforces the Government's pro-inclusivity, pro-growth, pro-reform agenda. It is largely positive for FMCG; proactive efforts to drive demand and increase consumption should revive growth. Over the last couple of months, as GST implementation is settling down, we are seeing FMCG growth come back on track and these initiatives will provide an additional fillip, especially to rural. However, the need of the hour is to ensure that these initiatives get translated into tangible results through faster implementation and better on-ground execution."
Ajay S Shriram, CMD, DCM Shriram Ltd
"Budget 2018 presents an encouraging outlook for a wide cross section of stakeholders. The FM [finance minister] has taken a long term view by focusing on agriculture, health care, education and infrastructure. It addresses specific pain points of the farmer by undertaking three major initiatives."
Shyamal Mukherjee, Chairman, PwC India
"This year's budget clearly illustrates the Government's intent to look at development holistically. The thrust on fueling the rural economy through measures around agriculture and creating an enabling eco-system through investments in infrastructure is commendable. These, in addition to incentives planned for MSMEs, will help create additional jobs. The healthcare sector was in dire need for attention and it is good to see the Government address some of its concerns with bold and aspirational initiatives. The efforts towards strengthening India's position as a digital economy through investments around new age technologies like AI and Fintech is a timely and welcome move."
Pierre de Bausset, president and MD, Airbus India.
"The budget has sought to strike a balance between India's need for economic growth and the wellbeing of its citizens. Investments to improve people's health, education and skill development are vital for long-term growth prospects of a country, and the budget has rightly focused on them. It addresses the aspirations of a modernising nation through initiatives to expand air connectivity under the UDAN scheme. "
Shilpa Divekar Nirula, CEO, Monsanto India Region
"The Union Budget 2018 has reiterated the government's rural focus and its commitment towards India's agriculture sector. Announcements through measures regarding farm output seem to be the key highlight. These include MSPs, improved market linkages and increased allocation towards the food processing sector.

"The continued emphasis on irrigation and farm insurance will provide further impetus to help farmers manage risks associated with cultivation."
Sanjiv Puri, CEO, ITC Limited
"I would like to congratulate the Finance Minister for presenting a "Jai Kisan, Jai Swasthya, Jai Bharat" Budget. The holistic approach to address critical sectors including agriculture, food processing, infrastructure, healthcare and human capital, which follows a slew of transformative reforms like GST undertaken earlier, will go a long way in fostering inclusive growth and strengthening the competitiveness of the Indian economy. The landmark announcement to create the world's largest Government funded healthcare programme is also path-breaking and will benefit millions of households.
Dr Niranjan Hiranandani, president, NAREDCO
"When he started his Budget Speech, Finance Minister Arun Jaitley said what has been largely expected that the budget will focus on agriculture and rural economy. He did not disappoint this expectation, with what is largely a 'Socialist' budget. The Finance Minister has managed to balance populist demands, the need to support economic growth and Prime Minister Narendra Modi's focus on fiscal discipline and reforms."
Adhil Shetty, CEO and co-founder BankBazaar
"Rs 5 lakh is a great mediclaim amount and 50 Cr individuals is a great target. This will create tremendous awareness for medical insurance in the same way as Jan Dhan which ensured every Indian to have a bank account. This will push for every Indian to have medical insurance.

On life insurance the PM Jeevan Jyoti Bima Yogana including Rs 2Lac Life cover is being pushed across a larger base which is a great sign. Rs 2 Lac critical cover is also being extended to a larger base."
Amar Ambani - Partner & Head of Research, IIFL Wealth
"The worst fear for stock market investors came true in Budget 2018-19 with reintroduction of long term capital gains tax @ 10%. The Finance Minister should have at least done away with securities transaction tax (STT) on listed shares and withdrawn dividend distribution tax.

"On the fiscal deficit front, although the slippage for FY18 and FY19E is higher than anticipated, it will still be among the lowest levels of deficit seen in the last three decades. Therefore, the move should be viewed as a pause, and not a deviation from the path of fiscal consolidation. At this point of time, focus on economic growth is desirable."
Rana Kapoor, MD & CEO, Yes Bank
"The admirable 'All-in' Budget has delivered beyond expectations in a bid to reinvigorate growth that is sustainable and equitable, leveraging fully on the available fiscal space. In the backdrop of past reforms culminating into early green shoots for investments, a credible rise in allocation for infrastructure by 21,% accompanied by broadening of corporate tax relaxation for MSMEs, a chiseled focus on generating livelihood creation in agriculture and rural sectors via new Operation Green and National Health Protection schemes, incentives to enhance employment in labor intensive sectors of textile, leather and footwear will ensure a stronger consumption and investment impetus in FY19."
Anand Ramanathan, partner, Deloitte India
"An effort has been made to address the impact of changing dietary patterns and the increased consumption of proteins through the announcements made in animal husbandry and fisheries. This will also help India from an exports standpoint in the marine sector. However, would have also liked to see a similar focus on promoting investments in horticulture which is another high impact area from a changing food pyramid perspective."
Shilan Shah, India Economist, Capital Economics, Singapore
"It was no surprise to us that they relaxed the deficit targets. It looks like the BJP is aiming to shore up support among rural voters, there have been plenty of measures announced to boost the rural economy. These are quite trademark things ahead of an election.

"In cumulative terms, the deficit has already overshot the previous target, it had to be revised up, but it does need to demonstrate some kind of fiscal prudence. The deficit this year will be same as last year, I don't think that comes as a surprise."
Radhika Rao, group economist, DBS, Singapore
"Overall measures have very strong social sector emphasis, which covers agricultural and rural sectors all the way to health and education sectors. Simultaneously, there is focus on infrastructure as well."

"As early as Aug-Sept last year, as the fiscal numbers were coming in, we were expecting a slippage in this target. But it has panned out. The bond market had expected fiscal slippage, I think it has not been as wide as feared."

"Divestment is expected to be much better than targeted for the first time in many years."
Sujan Hajra, chief economist, Anand Rathi Securities, Mumbai
"We were expecting (fiscal deficit of) 3.4 percent for the current year and 3.2 percent for the next year, and these announcements are slightly higher than expected. This is slightly negative for bond markets. The long term capital gain is a singular negative thing for the stock markets.

"With the agrarian crisis and unemployment situation, these kind of policies are expected with or without elections."
Harish Doraiswamy, VP, qualifications, schools & vocational, Pearson India
"The government has presented a well-balanced budget with a focus on addressing the fundamental needs of education in India. The budget rightly focuses on movement from traditional blackboards to digital boards which offer enhanced learning experience to students."

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Budget reactions: What business leaders have to say about Arun Jaitley's speech

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Business leaders and companies are reacting after Finance Minister Arun Jaitley presented the 2018/19 Union Budget that focused on funds for rural infrastructure and unveiled a health insurance programme for around 500 million poor. Here are reactions to the .

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Budget 2018: Industry Applauds Affordable Housing Fund; Sees Infra Projects As Investment Opportunity

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Budget 2018: Industry Applauds Affordable Housing Fund; Sees Infra Projects As Investment Opportunity

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What did the industry demand from the Union Budget 2018-19? Well, if we were to cut a long story short, in order to guarantee that a prospective homebuyer has enough left in hand to spend on housing, real estate developers asked for a rationalisation in tax slabs, housing loss set-off limits to be increased from Rs 2 lakh, waive the Goods and Services Tax (GST) from affordable homes or a lower GST rate, interest rate subsidies for mid-income groups, reduction in corporate taxes, abolition of stamp duty, etc.
More affordable houses: A booster
However, Finance Minister Arun Jaitley's Budget Speech was far from encouraging for the real estate sector. Although the expectations remained unfulfilled, the industry has applauded the boost FM announced for the affordable housing segment and also, the expanding coverage under the Pradhan Mantri Awas Yojana, both rural and urban. "Expanding the coverage under Pradhan Mantri Awas Yojna (PMAY) will fulfill every buyer's dream of owning a housing," says CHD Developers managing director Gaurav Mittal.

Vineet Relia of SARE Homes says homes that will be built under the PMAY would be a 'booster' for the sector. However, he was disappointed that there was no change in the GST rates, which could have given the sector a favourable push.

Sunil Agarwal, Associate Dean and Director, School of Real Estate, RICS SBE has also welcomed the Budget. "Lending for affordable housing will become a priority, which should encourage more private sector developers to build affordable homes. It will also add to the existing demand momentum for affordable homes. We are delighted to see that the government has recognized the challenges of rapid urbanisation and is taking efforts to meet them."

Welcoming the housing fund, Ashish R. Puravankara, MD, Puravankara Limited says, "Establishing of a dedicated affordable housing fund under the National Housing Bank will give it a huge fillip."

Kishore Bhatija of K Raheja Group is of the view that the Budget will create an environment for inclusive growth, a must for the Indian economy. "We have witnessed a populist Budget catering to the needs of the common man and the economy. The Budget has provided financial allocations in maintaining the Governments larger vision of Housing for All. The budget's capital expenditure focussing on key sectors such as agriculture, infrastructure and housing, amalgamate to provide necessary momentum and thrust to the economy. Changes in corporate taxation will incentivise many to invest, and be competitive. Overall the budget creates an environment for inclusive growth, and infuses transparency into the system," says Bhatija.
Smart cities to attract more investment
The FM talked about the selected 99 smart cities that have been allotted a budget of Rs 2.04 lakh crore till date. The industry sees this as an investment avenue. "Smart cities will attract more investments into the market which will uplift the commercial reality and increase the demand for office spaces," says Buildtech's managing director Pushpender Singh.

About 142 cities also receive investment grade ratings that help attract investments in the cities. Moreover, under the Atal Mission for Rejuvenation and Urban Transformation (AMRUT) programme, the focus would be to provide water supply to all households across 500 cities. Water supply contracts have already been awarded at a cost of Rs 19,428 crore.
Bengaluru & Mumbai suburbs real estate to get a boost
It was also positive to see suburban railways in Bengaluru and Mumbai find a mention in the Budget, with an outlay of Rs 17,000 crore and Rs 11,000 crore, respectively. Such an "improved railway network and accessibility generally have a positive multiplier effect on real estate," says Niranjan Hiranandani, CMD, Hiranandani Communities and President (National) Naredco.

Sarjan Shah, MD, Group Satellite also puts it straight marking that it was a "disappointing budget from the perspective of private sector involvement in creating mass housing stock that will make homeownership a reality for all Indians. Budget has unfortunately ignored the stressed and vilified real estate sector that is in desperate need of Government support through specific targeted tax breaks that help make building affordable homes in India viable."
Corporate tax extension a healthy move
Will the reduction in corporate tax pan out healthily? "The extension of corporate tax rate of 25 per cent to companies with the turnover up to Rs 250 crore from just Rs 50 crore till last year, will have a positive impact on the health of corporate India irrespective of any sector. With the focus on development in rural India, infrastructure augmentation, healthcare accessibility, education enhancement, employment benefits and smart city expansion, our country is gearing towards a stronger, healthier and brighter economy. We will be happy to contribute to our nation's growth story and accelerate development and inclusive growth," says Purvankara.
Impact of computation of circle rate
Suresh Hiranandani, CMD, House of Hiranandani pointed out, that the move to allow a variation of five per cent between transaction value and circle rates for computation of capital gains will not impact transactions significantly in any of the metropolitan cities in India."
Fiscal deficit a major concern
One of the concerns is the inability to meet the fiscal deficit in spite of surpassing the divestment target. New measures adopted for reducing the deficit might push up the yields leading to higher interest rates for both corporates and households. Investors, in particular, will not be pleased with Long-Term Capital Gains on sale of equity and mutual fund investments. We could see some flight of capital from equity to the real estate class on the back of this move. The salaried class too stood to gain very little as the standard deduction of Rs 40,000 will provide nominal benefits to them.

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Budget 2018: Realty sector happy with affordable housing, infra boost

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What did the industry demand from the Union Budget 2018-19? Well, if we were to cut a long story short, in order to guarantee that a prospective homebuyer has enough left in hand to spend on housing, real estate developers asked for a rationalisation in tax slabs, housing loss set-off limits to be increased from Rs 2 lakh, waive the Goods and Services Tax (GST) from affordable homes or a lower GST rate, interest rate subsidies for mid-income groups, reduction in corporate taxes, abolition of stamp duty, etc.

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Budget is growth and employment oriented: Experts

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Budget is growth and employment oriented: Experts

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Photo: Arun Kumar

"It is a growth oriented budget. What we are doing now for the agriculture sector should have been done 20-30 years ago otherwise there will be food inflation and food crisis," says Gaurang Shah, head investment strategist, Geojit Financial Services Limited.

He was, however, disappointed with reintroduction of capital gains tax and was clueless how the government will support MSP. He however adds that despite 10% long term capital gains, people will not sell their shares because they have nowhere to invest. "Investors will come into the equity market because as an asset class it has created long term returns compared to any other asset class. We are virtually only at the initial stages of stupendous growth."

FM's statement 'People in Hawai Chappal can now fly in Hawai Jahaj' will be a reality, he adds.

Pranay Vakil, retired founder chairman, Knight Frank India, says, this was the first budget he remembers where Rs 14.3 lakh crore out of total outlay of Rs 21.57 lakh crore has been assigned to rural areas. "Entire focus of the budget is on generating employment. With this allocation the FM has addressed the problem of migration from villages to cities on a daily basis looking for jobs. With 10 lakh employable people waiting for jobs every month, the FM aims to create jobs in villages so people don't have to migrate," he says.

However, Vakil points out that Arun Jaitley made no reference to where how the money for medical claims of 10 crore people will be raised keeping in mind 3.3% fiscal deficit. "This means he is assuming revenue from direct taxes, customs duty, and buoyant GST. Overall it's a good budget with prospective effect" he says.

Giving his views on the allocations for senior citizens, Vakil said, exemptions on FD interests of up to Rs 80,000 per annum, doubling the investment limit of Rs 7.5 lakh with 8 percent returns to Rs 15 lakhs, and medical insurance deduction for senior citizens of Rs 50,000 are few good steps.

"Senior citizens who survive on Rs 10,000 a month can live with dignity," he says and gives seven out of 10 marks to the budget.
Real estate builder and developer, Niranjan Hiranadani, too gave thumbs up to the budget.

"Bringing 10 crore people under insurance is a huge thing. eighty percent of the salaried taxpayers will benefit by standard deduction of Rs 40,000," he says.

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Budget is growth and employment oriented: Experts

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Photo: Arun Kumar "It is a growth oriented budget. What we are doing now for the agriculture sector should have been done 20-30 years ago otherwise there will be food inflation and food crisis," says Gaurang Shah, head investment strategist, Geojit Financial Services Limited.

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Budget 2018: Realty players welcome affordable housing fund

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Budget 2018: Realty players welcome affordable housing fund

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Budget 2018: Realty players welcome affordable housing fund

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The real estate industry has welcomed the move to promote affordable housing and setting up a separate fund under the National Housing Bank to lend to the priority sector, even as it expressed disappointment over non grant of industry status.

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Mumbai, Feb 1 The real estate industry has welcomed the move to promote affordable housing and setting up a separate fund under the National Housing Bank to lend to the priority sector, even as it expressed disappointment over non grant of industry status.

"The government has continued its focus on housing for all by 2022 by announcing a dedicated affordable housing fund under priority sector lending. We believe that the fund, which will be set up in collaboration with National Housing Bank, will provide ease of credit to homebuyers, thereby giving a much-needed boost to demand for low-cost homes across the country," Cushman & Wakefield country head and MD Anshul Jain said.

Shapoorji Pallonji Real Estate CEO Venkatesh Gopalkrishnan said, "the creation of the fund will boost buyers' sentiments and help revive the realty market. We expected the government to give industry status to real estate sector, though its efforts to support infrastructural developments laudable. This will have some impact."

Omkar Realtors and Developers chief marketing officer Manoj Paliwal, said rural infrastructure push will surely boost added housing in these areas resulting in employment.

Credai national president Jaxay Shah said the realty sector recently received a major reduction from 12 per cent to 8 per cent in GST and this budget has added to this concession for housing by adopting a target of 31 lakh homes in 2018-19 to be built in urban areas and 51 lakh in rural areas.

Tata Housing MD and CEO Brotin Banerjee said the high impetus to ease the mode of transportation by modernising railway infrastructure and road development with improved railway network and accessibility generally has a multiplier effect on real estate sector.

"This will lead to opening up additional land parcels with physical infrastructure leading to rise in affordable housing projects across the country," he said.

Sunteck Realty CMD Kamal Khetan said the allocation of Rs 14.34 lakh crore fund towards rural housing, rural roads and rural infrastructure will help in creating employment opportunities.

Puravankara MD Ashish Puravankara said, "a robust road map for housing for all was laid during the budget last year such as infra status to affordable housing and tax holiday for affordable housing and now the establishing of a dedicated affordable housing fund under the NHB will give it a huge fillip too."

Paarth Infrabuild chief operations officer Abhishek Singh said the industry was expecting the sector would get industry status and benefits to new home buyers may have received through relaxing the tax slabs or tax benefits to developers, which did not happen.

K Raheja Corp MD, Kishore Bhatija said the sector was seeking some very important amendments like the industry status, streamlining of taxation norms for REITs, rationalisation of GST, and extension of tax SOPs for SEZ units, which we hope will be addressed soon.

Sobha's vice-chairman and MD JC Sharma said, "to minimise the hardship in real estate transaction, the finance minister's proposal that no adjustment shall be made in a case where the circle rate value does not exceed 5 percent of the consideration is a welcome step."

KPMG's Neeraj Bansal said both the buyers as well as the developers were expecting much from this Budget in terms of improving the purchasing power of the buyers as well as simplification and clarification on some of the key tax issues concerning the sector.

"The investor and corporate class were largely left wanting and proposals for the real estate and construction sector, which is currently witnessing considerable headwinds owing to weak demand and transformational reforms, are no different. Amendments were also expected on taxability of REIT structures to augment this alternate investment mechanism for the investors, which did not happen," he said.

Naredco President Niranjan Hiranandani said the finance minister has managed to balance populist demands, the need to support economic growth.

"It was also positive to see suburban railways in Mumbai find a mention in the budget, with Rs 11,000 crore of outlay. Improved railway network and accessibility generally have a positive multiplier effect on real estate," he added.

Shree Krishna Group MD Sundeep Jagasia said setting up of the dedicated fund for affordable housing and inclusion of affordable housing loans under priority sector lending will increase the credit availability for real estate sector.

Echoing similar views DOTOM Realty MD Manoj Vishwakarma and Transcon Developers VP sales and marketing Sarojini Ahuja opined the budget lacked clarity on various aspects of the sector.

Duville Estates director Tushad Dubash said the smart cities mission is an ambition to develop 100 cities across India that would also harness the Information Communication Technology (ICT) capabilities.

"Infrastructure is a growth driver for the country and the budgets focus on infrastructure and connectivity will have an impact on not only the real estate sector but the economy on the whole," he said.

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Realty players welcome affordable housing fund

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Mumbai, Feb 1 The real estate industry has welcomed the move to promote affordable housing and setting up a separate fund under the National Housing Bank to lend to the priority sector, even as it expressed disappointment over non grant of industry status.

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Is the Budget 2018 Good, bad, disappointing, lackluster or has Finance Minister Arun Jaitley taken a pragmatic approach keeping India's long-term welfare in view?

Here's what Industry leaders have to say...

S.Ravi, Practicing CA & Founding Partner - Ravi Rajan & Co and Chairman - BSE

The 'Budget 2018 has emphasized the need for structural reforms with outlays focusing on rural economy and rural infra development at Rs.14.34 lakh crores, benefits to farmers by proposing to fix Minimum Support Price (MSP) at 1.5 times the market price, Rs.1 lakh crores outlay to be spent on revitalization of Education infrastructure and world's largest health care programme covering 10 crore poor and vulnerable families. Recognizing the contribution of SME, the budget announcement of taxing companies with a turnover of up to Rs 250 crore at 25% is a welcome news. The proposal of a unified regulator for the International Financial Services Centre (IFSC) at GIFT City in Gujarat is a positive step towards efficient and effective regulation and supervision of the financial entities.

The impact of consolidation in the Public sector insurance space by merging United India Insurance, Oriental Insurance and National Insurance and then their listing as well as meeting Disinvestment target for 2018-19 at Rs 80,000 crore could prove vital for addressing the fiscal deficit of 3.3% of GDP for 2018-19. The revised estimate of 3.5 % for FY 18 is on expected lines as indicated in the Economic Survey.The announcement of long-term capital gains tax at 10% on equity gains of over Rs.1 lakh is something that came unexpectedly for the markets. However, if the economic fundamental is strong and the returns are great, it should not hurt the investment sentiments.

Shobana Kamineni, President, CII

"The Budget provides impetus to the sectors of agriculture and rural economy with many significant measures which will add to overall consumption and demand and boost growth. The support to MSME sector through lowering of the corporate tax rate to 25%, increase in access to finance, and addressing non-performing assets would help alleviate the stress in the sector...As in previous Budgets, the Finance Minister has introduced some innovative steps which will add comfort to citizens and strengthen key growth drivers."

Dr. Niranjan Hiranandani, CMD Hiranandani Communities, and President (Nation), NAREDCO

Finance Minister Arun Jaitley has managed to balance populist demands, the need to support economic growth and Prime Minister Narendra Modi's focus on fiscal discipline and reforms. From a real estate perspective, the Finance Minister said the government will establish a dedicated affordable housing fund in the National Housing Bank through various funding measures. This is a welcome step.

The Finance Minister's mention of reducing hardships faced in realty deals was 'positive'. It was also positive to see Suburban Railways in Mumbai find a mention in the budget, with Rs 11,000 crore of outlay. "Improved railway network and accessibility generally have a positive multiplier effect on real estate.

Targets of Swacch Bharat, rural electricity and LPG connections have been increased substantially, which is a positive. The Budget takeaway: Focus on 'ease of living' after 'ease of doing business

A.K. Basak, Chairman, PLEXCONCIL

Plexconcil welcomes the key announcements with respect to the MSME sector because the majority of the plastics industry consists of MSMEs/ SMEs. The Plastics industry predominantly comprises the MSME businesses and the Rs. 3794 crores allocated in capital support and interest subsidy is sure to help the sector grow. Needless to say, this would encourage more of our trade members to explore the expansion of their businesses, thereby not only increase output capacities, technological advancement but also facilitate increased employment creation and skill enhancement. This move will also incentivize new entrants into the segment and help grow the industry sector as a whole. The stimulus to the growth of the manufacturing sector will also further boost exports. We feel that the incentives given to the Footwear, Leather and Textiles sector should also be extended to the plastics industry. The cut back on the Corporate tax to 25% for businesses with a turnover of up to 250 crores is also a welcome reprieve for many of our manufacturers who will now be able to utilize funds thus saved to reinvest in their own businesses and improve their manufacturing capacities to meet the increasing demands of the international markets. This will also stimulate job creation.

Priti Rathi Gupta, Managing Director, Anand Rathi Share & Stock Brokers

The FM did what was the need of the hour. Rural and agricultural reforms, infrastructure outlays, will help boost the economy.The capital markets will undergo some pain due to the LTCG being levied, but I see no major long-term effects as Equities remain to be the most attractive asset class in the coming years too. LTCG was removed when Securities Transaction Tax was levied, hence STT should have been reviewed/removed. Gold monetization and strengthening E-nam and agriculture markets, both spot and futures will be a big boost to the commodity markets.

It is reflective of being the last budget before elections and is set to meet the economic challenges as well. The fiscal deficit number is more than the market expectations, but it's a calculated choice giving preference to growth and investment."

Vikram Bapat, Partner, Grant Thornton India

"In this Budget, the government continues its focus on the Rural sector with enhanced spend on rural outreach. The announcement on affordable housing is a favorable one for the People of India. The impetus on Make in India continues with a policy on domestic defence production on the anvil. While the GST impact is yet to be assessed, tweaks in the customs rates on certain items, particularly in the auto sector will make domestic manufacturing competitive. Tax incentives on employment generation are extended to the footwear and leather industries besides textiles highlights the government's focus on taking its Make in India agenda ahead."

CS Makarand Lele, President, Institute of Company Secretaries of India (ICSI)

This Budget provides a huge opportunity for employment, skill development, Ease of Doing Business and leading towards achieving the motto of Prime Minister, Narendra Modi -"Sabka Sath Sabka Vikas". The Indian economy will get a boost by providing relief to genuine taxpayers, small businesses, and young entrepreneurs. Overall initiatives of the Budget are outstanding and a right step towards the sustainable growth of the country, transforming into a new India with a global dominance.

The budget is largely focussed on uplifting the agricultural sector, along with a major push to healthcare and education sectors in the country. In a major push to provide healthcare, the world's largest health protection scheme for 50 crore Indians has been announced.

This is the first budget after the rollout of the Goods and Services Tax (GST) and the budget proposals primarily focus on customs. The changes proposed in customs duty aim to create more jobs in the Nation. They also seek to incentivize domestic value addition and Make in India for various sectors including food processing, electronics, auto components, footwear, and furniture. The Budget proactively focuses to smoothen dispute resolution processes and to reduce litigation under Customs.

Khushru Jijina, Managing Director, Piramal Finance & Piramal Housing Finance

The Union budget 2018 was a pragmatic one and focused on fortifying the economy as a whole. The Government's endeavor to provide housing to every poor citizen by 2020 through the establishment of a dedicated affordable housing fund in the national housing bank, along with priority sector status being granted, is a commendable one. The government assuming ownership of NHB from RBI is also positive as it would translate into the focus of NHB shifting from regulation to development.

The reduction of the GST rate from 12% to 8% on affordable and low-cost housing units last week was a welcome reform. Building 31 lakh homes in 2018-19 in urban areas and a further 51 lakh in rural areas will go a long way in addressing primary housing demand. Overall, the strong economic impetus provided in the budget will ultimately boost housing and real estate. The introduction of long-term capital gains tax at 10 percent on equities will also have an indirect impact on making an investment in real estate (over listed stocks) more attractive than before. Tax breaks being granted to senior citizens and salaried employees will increase their disposable income available for making capital purchases. A push on infrastructure comprising public investment in the rural areas, agricultural marketing, urban connectivity, particularly Metros etc will also multiply investment prospects for real estate sector.

Ashwin Damera, Executive Director, Emeritus Institute of Management

The announcements in the Union Budget 2018 that technology will be the biggest driver in improving quality of education is a welcome one and, we believe, will provide an impetus to edtech players to partner the Government in its endeavor. The allocation of Rs. 1 lakh crore towards revitalization and up-gradation of education sector, listing out all the new educational and training institutes that the government aims to introduce and the move to promote learning-based outcomes and research are steps in the right direction to advance the quality of education, and thereby the quality of the manpower

Surendra Hiranandani, CMD, House of Hiranandani

I would term it as a pro farmers budget with a slew of measures well directed towards improving productivity in agriculture. With the increase in MSP for crops, thrust on organic farming, doubling the expenditure allocated to food processing sector, liberalization of agricultural exports, creating state of the art facilities at food parks, push to fisheries and allied sector, measures for senior citizens, this budget truly focused on uplifting the life of the "Aam aadmi". The introduction of various schemes in these areas will certainly bridge the rural-urban divide in the future. The announcements in the areas of healthcare, in particular, are path-breaking and will empower the poor and underprivileged sections of the society. While there was no direct benefit to the real estate sector from the budget, some measures announced will positively impact the sector.

Tushad Dubash - Director, Duville Estates

Budget 2018-19 focus on infrastructure and the Smart Cities initiative is a positive move for the real estate sector and Pune in specific. The Smart Cities Mission is an ambition to develop 100 cities across India that would also harness the Information Communication Technology (ICT) capabilities. Pune comes under the governments Smart City initiative and the allocation of Rs. 2.04 lakh crore towards the listed 99 Smart Cities will serve well for Pune's real estate market. Pune's real estate is one is the lesser impacted markets in comparison to the other key cities and have proved to be one of the more resilient markets in the country. Unlike other metros where buyers have demonstrated a strong preference for ready-to-move-in apartments, in Pune, there has been a steady skew to in terms of interest in under-construction projects. It is important to note that strong Real Estate has had a steady momentum in terms of inventory off-take and that the excellent infrastructural connectivity has definitely lent a positive slant to sustaining the current momentum especially in some of Pune's micro-geographies which have withstood the onslaught of a decline in prices due to the impact of de-monetization, RERA, and GST. Combining Pune's growing infrastructure along with the sustained demand will boost Pune's real estate market further. Infrastructure is a growth driver for the country and the budgets focus on infrastructure and connectivity will have an impact on not only the real estate sector but the economy on the whole.

Highlights of Budget 2018-19

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Budget 2018: Here's What Industry Leaders Have To Say... - Indiapages

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S.Ravi, Practicing CA & Founding Partner - Ravi Rajan & Co and Chairman - BSE The 'Budget 2018 has emphasized the need for structural reforms with outlays focusing on rural economy and rural infra development at Rs.14.34 lakh crores, benefits to farmers by proposing to fix Minimum Support Price (MSP) at 1.5 times the market price, Rs.1 lakh crores outlay to be spent on revitalization of Education infrastructure and world's largest health care programme covering 10 crore poor and vulnerable families.

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Realty players welcome affordable housing fund

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Realty players welcome affordable housing fund

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Mumbai, Feb 1 (PTI) The real estate industry has welcomed the move to promote affordable housing and setting up a separate fund under the National Housing Bank to lend to the priority sector, even as it expressed disappointment over non grant of industry status. "The government has contin

Mumbai, Feb 1 (PTI) The real estate industry has welcomed the move to promote affordable housing and setting up a separate fund under the National Housing Bank to lend to the priority sector, even as it expressed disappointment over non grant of industry status.

"The government has continued its focus on housing for all by 2022 by announcing a dedicated affordable housing fund under priority sector lending. We believe that the fund, which will be set up in collaboration with National Housing Bank, will provide ease of credit to homebuyers, thereby giving a much-needed boost to demand for low-cost homes across the country," Cushman & Wakefield country head and MD Anshul Jain said.

Shapoorji Pallonji Real Estate CEO Venkatesh Gopalkrishnan said, "the creation of the fund will boost buyers sentiments and help revive the realty market. We expected the government to give industry status to real estate sector, though its efforts to support infrastructural developments laudable. This will have some impact."

Omkar Realtors and Developers chief marketing officer Manoj Paliwal, said rural infrastructure push will surely boost added housing in these areas resulting in employment.

Credai national president Jaxay Shah said the realty sector recently received a major reduction from 12 per cent to 8 per cent in GST and this budget has added to this concession for housing by adopting a target of 31 lakh homes in 2018-19 to be built in urban areas and 51 lakh in rural areas.

Tata Housing MD and CEO Brotin Banerjee said the high impetus to ease the mode of transportation by modernising railway infrastructure and road development with improved railway network and accessibility generally has a multiplier effect on real estate sector.

"This will lead to opening up additional land parcels with physical infrastructure leading to rise in affordable housing projects across the country," he said.

Sunteck Realty CMD Kamal Khetan said the allocation of Rs 14.34 lakh crore fund towards rural housing, rural roads and rural infrastructure will help in creating employment opportunities.

Puravankara MD Ashish Puravankara said, "a robust road map for housing for all was laid during the budget last year such as infra status to affordable housing and tax holiday for affordable housing and now the establishing of a dedicated affordable housing fund under the NHB will give it a huge fillip too."

Paarth Infrabuild chief operations officer Abhishek Singh said the industry was expecting the sector would get industry status and benefits to new home buyers may have received through relaxing the tax slabs or tax benefits to developers, which did not happen.

K Raheja Corp MD, Kishore Bhatija said the sector was seeking some very important amendments like the industry status, streamlining of taxation norms for REITs, rationalisation of GST, and extension of tax SOPs for SEZ units, which we hope will be addressed soon.

Sobhas vice-chairman and MD JC Sharma said, "to minimise the hardship in real estate transaction, the finance ministers proposal that no adjustment shall be made in a case where the circle rate value does not exceed 5 percent of the consideration is a welcome step."

KPMGs Neeraj Bansal said both the buyers as well as the developers were expecting much from this Budget in terms of improving the purchasing power of the buyers as well as simplification and clarification on some of the key tax issues concerning the sector.

"The investor and corporate class were largely left wanting and proposals for the real estate and construction sector, which is currently witnessing considerable headwinds owing to weak demand and transformational reforms, are no different. Amendments were also expected on taxability of REIT structures to augment this alternate investment mechanism for the investors, which did not happen," he said.

Naredco President Niranjan Hiranandani said the finance minister has managed to balance populist demands, the need to support economic growth.

"It was also positive to see suburban railways in Mumbai find a mention in the budget, with Rs 11,000 crore of outlay. Improved railway network and accessibility generally have a positive multiplier effect on real estate," he added.

Shree Krishna Group MD Sundeep Jagasia said setting up of the dedicated fund for affordable housing and inclusion of affordable housing loans under priority sector lending will increase the credit availability for real estate sector.

Echoing similar views DOTOM Realty MD Manoj Vishwakarma and Transcon Developers VP sales and marketing Sarojini Ahuja opined the budget lacked clarity on various aspects of the sector.

Duville Estates director Tushad Dubash said the smart cities mission is an ambition to develop 100 cities across India that would also harness the Information Communication Technology (ICT) capabilities.

"Infrastructure is a growth driver for the country and the budgets focus on infrastructure and connectivity will have an impact on not only the real estate sector but the economy on the whole," he said. PTI PSK DSK DSK

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Realty players welcome affordable housing fund

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Mumbai, Feb 1 (PTI) The real estate industry has welcomed the move to promote affordable housing and setting up a separate fund under the National Housing Bank to lend to the priority sector, even as it expressed disappointment over non grant of industry status.

# data[].attributes.headline
Realty players welcome affordable housing fund

# data[].attributes.subject
Realty players welcome affordable housing fund

# data[].attributes.attachment_link.readable_text
Mumbai, Feb 1 (PTI) The real estate industry has welcomed the move to promote affordable housing and setting up a separate fund under the National Housing Bank to lend to the priority sector, even as it expressed disappointment over non grant of industry status.

"The government has continued its focus on housing for all by 2022 by announcing a dedicated affordable housing fund under priority sector lending. We believe that the fund, which will be set up in collaboration with National Housing Bank, will provide ease of credit to homebuyers, thereby giving a much-needed boost to demand for low-cost homes across the country," Cushman & Wakefield country head and MD Anshul Jain said.

Shapoorji Pallonji Real Estate CEO Venkatesh Gopalkrishnan said, "the creation of the fund will boost buyers' sentiments and help revive the realty market. We expected the government to give industry status to real estate sector, though its efforts to support infrastructural developments laudable. This will have some impact." Omkar Realtors and Developers chief marketing officer Manoj Paliwal, said rural infrastructure push will surely boost added housing in these areas resulting in employment.

Credai national president Jaxay Shah said the realty sector recently received a major reduction from 12 per cent to 8 per cent in GST and this budget has added to this concession for housing by adopting a target of 31 lakh homes in 2018-19 to be built in urban areas and 51 lakh in rural areas.

Tata Housing MD and CEO Brotin Banerjee said the high impetus to ease the mode of transportation by modernising railway infrastructure and road development with improved railway network and accessibility generally has a multiplier effect on real estate sector.

"This will lead to opening up additional land parcels with physical infrastructure leading to rise in affordable housing projects across the country," he said.

Sunteck Realty CMD Kamal Khetan said the allocation of Rs 14.34 lakh crore fund towards rural housing, rural roads and rural infrastructure will help in creating employment opportunities.

Puravankara MD Ashish Puravankara said,

"a robust road map for housing for all was laid during the budget last year such as infra status to affordable housing and tax holiday for affordable housing and now the establishing of a dedicated affordable housing fund under the NHB will give it a huge fillip too."

Paarth Infrabuild chief operations officer Abhishek Singh said the industry was expecting the sector would get industry status and benefits to new home buyers may have received through relaxing the tax slabs or tax benefits to developers, which did not happen.

K Raheja Corp MD, Kishore Bhatija said the sector was seeking some very important amendments like the industry status, streamlining of taxation norms for REITs, rationalisation of GST, and extension of tax SOPs for SEZ units, which we hope will be addressed soon.

Sobha's vice-chairman and MD JC Sharma said, "to minimise the hardship in real estate transaction, the finance minister's proposal that no adjustment shall be made in a case where the circle rate value does not exceed 5 percent of the consideration is a welcome step."

KPMG's Neeraj Bansal said both the buyers as well as the developers were expecting much from this Budget in terms of improving the purchasing power of the buyers as well as simplification and clarification on some of the key tax issues concerning the sector.

"The investor and corporate class were largely left wanting and proposals for the real estate and construction sector, which is currently witnessing considerable headwinds owing to weak demand and transformational reforms, are no different. Amendments were also expected on taxability of REIT structures to augment this alternate investment mechanism for the investors, which did not happen," he said.

Naredco President Niranjan Hiranandani said the finance minister has managed to balance populist demands, the need to support economic growth.

"It was also positive to see suburban railways in Mumbai find a mention in the budget, with Rs 11,000 crore of outlay. Improved railway network and accessibility generally have a positive multiplier effect on real estate," he added.

Shree Krishna Group MD Sundeep Jagasia said setting up of the dedicated fund for affordable housing and inclusion of affordable housing loans under priority sector lending will increase the credit availability for real estate sector.

Echoing similar views DOTOM Realty MD Manoj Vishwakarma and Transcon Developers VP sales and marketing Sarojini Ahuja opined the budget lacked clarity on various aspects of the sector.

Duville Estates director Tushad Dubash said the smart cities mission is an ambition to develop 100 cities across India that would also harness the Information Communication Technology (ICT) capabilities.

"Infrastructure is a growth driver for the country and the budgets focus on infrastructure and connectivity will have an impact on not only the real estate sector but the economy on the whole," he said.
This is published unedited from the PTI feed.

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Realty players welcome affordable housing fund

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Mumbai, Feb 1 (PTI) The real estate industry has welcomed the move to promote affordable housing and setting up a separate fund under the National Housing Bank to lend to the priority sector, even as it expressed disappointment over non grant of industry status.

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A speak on #budget2018 by Niranjan Hiranandani

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A speak on #budget2018 by Niranjan Hiranandani

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निरंजन हीरानंदानी को कैसा लगा बजट 2018 | Mumbai Tak

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All You Need To Know About Budget 2018 | Niranjan Hiranandani

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All You Need To Know About Budget 2018 | Niranjan Hiranandani

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Union Budget 2018-19 is balanced budget : Niranjan Hiranandani, MD of Hiranandani Group - Tv9

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Union Budget 2018-19 is balanced budget : Niranjan Hiranandani, MD of Hiranandani Group. Subscribe to Tv9 Gujarati: https://www.youtube.com/tv9gujarati Like us on Facebook at https://www.facebook.com/tv9gujarati Follow us on Twitter at https://twitter.com/Tv9Gujarati Follow us on Dailymotion at http://www.dailymotion.com/GujaratTV9 Circle us on Google+ : https://plus.google.com/+tv9gujarat Follow us on Pinterest at http://www.pinterest.com/tv9gujarati/