Budget Reaction 2014-2015: Ravi Saund, COO, CHD Developers Ltd.

Mr. Ravi Saund  COO  CHD Developers Ltd.The new government’s maiden budget claims to contain reform measures to revitalize growth and drive engines of the economy burgeoning again. Will this growth oriented budget withstand the test of time? There’s no denying it’s a common budget, yet it’s difficult to prophesize at this moment. However, couple of reforms announced is a welcome move. It is positive for the housing sector, though the focus is clearly on affordable segment.

The government has encouraged the home buyers by widening Housing loan interest exemption U/s 24 B from Rs 1.5 lakh to Rs 2 lakh coupled by personal tax exemption slab raised to the level of 2.5 lakhs per annum. The latter will definitely boost investor’s sentiments in the real estate sector.

Real Estate Investment Trusts(REITs), Infrastructure Investment trusts and granting pass through status for taxation is a welcome and essential step for successful implementation of REIT’s in India. It will help in easing liquidity requirement for developers, paving way to raise easy capital and also provide access to retail investors to benefits from regular income and appreciation benefits from real estate. This is bound to give the much needed fillip to the sector.

The government is focused on the vision of developing and modernizing with the introduction of smart cities. To make this dream a reality, the finance minister announced allocation of Rs 7,060 crores in the current fiscal for development of the smart cities and 7 new industrial cities. This will drive real estate development in these pockets and create newer markets.

Infrastructure has received a major thrust. The steps to increase funding for roads, highways, airports, power and SEZs will surely add more terrain on the Indian realty map taking tier 2 and tier 3 cities on new growth trajectory.

About CHD Developers Ltd

Established over two decades ago, CHD Developers Limited is the leader of innovative development in the north Indian real estate sector. Their innovative approach has led them to become a formidable force in the Indian real-estate industry. Their projects at Gurgaon, Karnal, Delhi NCR Vrindavan, Haridwar, etc. speak volumes about their commitment to provide world class living standards to their customers. CHD Developers Ltd. is publicly traded at Bombay Stock Exchange since 1995.

With the company’s philosophy being deeply rooted in its unshakeable belief in charting new horizons with a singularity of purpose and breadth of vision, the management also moves forward with a single focus on innovating at every stage. Customer is at the helm of whatever we do. This is clearly evident in company’s core purpose, “Creating happy & healthy communities across the world by delivering beyond the customer’s expectation.”  Continuous innovation lies at the heart of the company’s core values, and this enables CHD Developers to constantly invent and implement across the board — in conceptualization, implementation and support. In addition to customer centricity and innovation at work, team work, social responsibility and transparency are the set of values that lay at the foundation of the company structure.

It is these core values that have driven CHD Developers, over the years, to diversify and grow in new domains and segments of the real estate business such as integrated townships, commercial complexes and group housing across locations. The company’s clear-cut vision, its professionalism and expertise, and its unswerving faith in excellence form the bedrock of its solid fundamentals while it continues to aim for and scale new heights. And now the company is all set to report projects worth Rs 2500 cr by 2015.