Tata Realty to expand commercial portfolio
Buoyed by healthy leasing demand ...
Dutt said that among ongoing projects, nearly 8 lakh square feet of Intellion Park, Gurgaon will be ready by November and the remaining 8 lakh will be ready by March-April, 2021. He also said that construction work of Intellion Park, Navi Mumbai has commenced.
In the residential segment too, he said that the company recorded sales at pre-Covid levels in the past few months and it is in a better position compared to its peers. He said that demand for good quality homes and flexibility of schemes and promotions provided by the company has helped the company attract home buyers.
"We have a very decent line of projects where the inventory is ready to move inventory, where there is no GST and occupancy certificates are in place and the buyer can immediately occupy, there is no risk and concern," Dutt said. For the revival of the sector he suggested stamp duty cuts, reintroduction of input tax credit for real estate under GST and foreign direct investment in ready-to-move-in inventory, which is not permitted now. Dutt said that FDI into ready-to-move-in properties would bring private equity to the stuck projects and address the liquidity concerns.