Haryana RERA member highlights the need for fiscal discipline
Real Estate

Haryana RERA member highlights the need for fiscal discipline

Sanjeev Kumar Arora, a member of the Gurugram bench of Haryana regulatory authority, stated that no real estate project could fail if developers maintained financial discipline from the outset. Addressing Assocham's National Conference on the Changing Dynamics of Real Estate for Viksit Bharat, he advocated for a reduction in interest rates on home loans to stimulate demand. Arora emphasised, "I believe that if the promoter endeavours to uphold financial discipline from the beginning of the project and maintains a healthy debt-to-equity ratio, no project can fail." He highlighted the real estate sector's role in generating employment opportunities within the Indian economy. Regarding the need for interest rate rationalisation, Arora remarked, "There is a requirement to rationalise interest rates and lending rates, as lower lending rates encourage both investors and homebuyers to participate. Builders are also content delivering projects at minimal costs." Discussing the Real Estate (Regulation and Development) Act (RERA), Arora, a member of HRERA, mentioned that approximately 1,25,000 projects and 75,000 brokers have been registered nationwide since its enactment. Pradeep Aggarwal, Chairman of the National Council on Real Estate, Housing, and Urban Development at Assocham, underscored the sector's critical importance in positioning India as a leading economy. He added that real estate constitutes a market worth Rs 24 lakh crore and contributes approximately 13.8% to the GDP. Vineet Relia, Director of Urbanbriq Development Management Pvt. Ltd., cautioned about a potential downturn in the sector unless the government provides support in terms of affordability in the upcoming years.

Sanjeev Kumar Arora, a member of the Gurugram bench of Haryana regulatory authority, stated that no real estate project could fail if developers maintained financial discipline from the outset. Addressing Assocham's National Conference on the Changing Dynamics of Real Estate for Viksit Bharat, he advocated for a reduction in interest rates on home loans to stimulate demand. Arora emphasised, I believe that if the promoter endeavours to uphold financial discipline from the beginning of the project and maintains a healthy debt-to-equity ratio, no project can fail. He highlighted the real estate sector's role in generating employment opportunities within the Indian economy. Regarding the need for interest rate rationalisation, Arora remarked, There is a requirement to rationalise interest rates and lending rates, as lower lending rates encourage both investors and homebuyers to participate. Builders are also content delivering projects at minimal costs. Discussing the Real Estate (Regulation and Development) Act (RERA), Arora, a member of HRERA, mentioned that approximately 1,25,000 projects and 75,000 brokers have been registered nationwide since its enactment. Pradeep Aggarwal, Chairman of the National Council on Real Estate, Housing, and Urban Development at Assocham, underscored the sector's critical importance in positioning India as a leading economy. He added that real estate constitutes a market worth Rs 24 lakh crore and contributes approximately 13.8% to the GDP. Vineet Relia, Director of Urbanbriq Development Management Pvt. Ltd., cautioned about a potential downturn in the sector unless the government provides support in terms of affordability in the upcoming years.

Next Story
Infrastructure Energy

REC Transfers HVDC Project to Power Grid

REC Limited has successfully handed over the Special Purpose Vehicle (SPV) for a High-Voltage Direct Current (HVDC) transmission project to Power Grid Corporation of India Limited (PGCIL). This strategic move aligns with the nation's objectives to strengthen its power transmission network. Key Highlights: Project Overview: The HVDC project, under the inter-state transmission system (ISTS) initiative, is a critical component of India's push toward robust and efficient electricity transmission. It aims to handle bulk power transfer across long distances while ensuring minimal losses. Role of RE..

Next Story
Infrastructure Transport

NF Railway Collaborates with IIT Guwahati

The Northeast Frontier (NF) Railway has signed strategic Memorandums of Understanding (MoUs) with IIT Guwahati to foster technological advancements and improve railway operations in the region. This partnership focuses on innovative solutions to enhance safety, efficiency, and sustainability in rail infrastructure. Key Highlights: Purpose of MoUs: The collaboration aims to leverage IIT Guwahati's expertise in technology and research for implementing cutting-edge solutions across railway operations. Key areas of focus include: Automation and digitization in maintenance. Sustainability initiati..

Next Story
Infrastructure Transport

Danapur Division Modernization Plans Revealed

The Railway Board has unveiled ambitious plans for the expansion and modernization of the Danapur Division, a critical hub under the East Central Railway. The initiative focuses on infrastructure development, enhanced passenger amenities, and operational efficiency. Key Highlights: Scope of Modernization: The Railway Board's blueprint emphasizes: Upgrading existing infrastructure to accommodate more passenger and freight traffic. Improving station facilities, such as platforms, waiting areas, and connectivity. Introducing advanced signal systems for safer and smoother operations. Freig..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000