Kunal Madan, Legal Expert, Solicitor & Advocate, Delhi High Court
The Real Estate is one of the major industries in India thrive on a parallel economy funded by black money. 30% of India's real estate sector is funded by black money. Therefore, this sector is likely to go through a tremendous pain, chaos and restructuring, it will shake up the sector.
There are indications that realty prices may reduce. Many of the home buyers preferred to pay in cash to save taxes, which ranges up to 15%. In addition, there are many suppliers for whom the payment has to be made in cash only. Their payment will be a headache now.
However on the other hand, this step will bring about transparency in the realty sector. It will help curb unaccounted-for cash in the real estate sector and will give the Indian real estate sector more credibility and make it more attractive for foreign investors,”
Rajender Garg, Director, Anupam Sinks
The Centre's decision to do away with Rs 500 and Rs 1000 currency notes from midnight Tuesday to fight against black money is a welcome step however it will have a significant negative impact on the working class and small and rural businesses in the short-term.
Over the next month, there will undoubtedly be a significant shortage in cash supply: not just Rs 500 and Rs 1,000 bills, which are being taken out of circulation, but almost every other denomination as well. However our manufacturing sector will get benefited due to increase in money circulation.
India’s larger and new-age companies will have no problems in making the switch to Rs 2,000 notes.
Kishor Pate, Chairman & Managing Director of Amit Enterprises Housing Ltd, is the driving force behind one of the most successful real estate development firms in Pune and beyond. Apart from its signature luxury projects like Montecito in Sahakar Nagar and other premium gated townships, AEHL has also launched highly successful affordable housing projects like Astonia Classic and Colori in Undri and the Mediterranean-style Township Astonia Royale in Ambegaon.
Mtandt Group, which owns India's Largest AWP rental company Mtandt Rentals Limited and India's Largest AWP distribution company Mtandt Limited
Mtandt Group, which owns India's Largest AWP rental company Mtandt Rentals Limited and India's Largest AWP distribution company Mtandt Limited which represents major AWP brands like ATN, BRAVI, Dingli, HAB, Magni, Omme, PM, Ruthmann Skyjack, Teupen, Time, Unic in India has placed an order for 158 units of new Machines for its rental fleet. The brands ordered include ATN, Dingli, JLG, Magni, Skyjack and Unic a strategic mix of scissors booms, Telehandlers and Truck Loader Cranes. The group is also planning to order 80 units of new Italian design booms from Dingli and a 72 meters Truck Mounted AWP from Ruthmann.
“Today Mtandt is the most preferred Rental Partner for Major Customers in India as per the independent survey and to continue with the legacy we need to keep adding new machines to our fleet” said Mr. Sanjay Khanna, President, Mtandt Rentals Limited.
“In our endeavor to continuously grow and cater to the demand of new equipment from our customers, we are investing in enhancing our existing fleet and topping it up with a whole new lot of equipment.” added Mr. Rakesh Modi, Managing Director, Mtandt Group.