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Adi Godrej terms demonetization a positive step but asks govt. not to interfere in realty sector.
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Adi Godrej pitched for improving the ease of doing business and has suggested that government should not interfere in real estate sector.

Hyderabad, January 25: In an interview with Press trust of India, Godrej Group Chairman Adi Godrej has asked government not interfere in the real estate business though he termed demonetization to be a constructive step.

In order to control corruption, he pitched for early introduction of GST, and state-funding of elections. Further, he also pitched for improving the ease of doing business.

When asked if he thought that the government needs to act as some argue that real estate sector and gold are one of the biggest black money generators, he responded by saying No, Nothing.

Godrej added that you cannot interfere in the business.  “But in real estate, if permissions come quickly and they are not held up by government goes into every little detail and High Court intervening saying this can’t be done and that can’t be done etc, etc… So, if ease of doing business is improved in real estate it will be very good”, he told PTI in an interview.

He also commented that we should not forget that what we talk of black money in real estate is mainly in resale of real estate. Majority of the big developers do not accept cash and may be some small real estate developers do.  He termed demonetization to be positive step and said that the negatives from this move have been less compared to the expectations. And, positives would come in very fast.

The country will see good growth and tremendous beneficial effect once GST arrives by April first or latest by July first. GST has lot of economic benefits such as improving the ease of doing business etc, Godrej said.

Demonetization will lead to many positives such as less black money in the market, more banking finance availability, lower inflation and higher tax.

Godrej Properties is a subsidiary of Godrej Group. Recently Godrej Properties have launched Godrej Golf Links luxurious villas in Greater Noida.

Akash Singh

Author: Akash Singh

Akash Singh is a passionate free lance writer based in Noida. He’s designed the content for various reputed online financial and real estate portals. He has completed his Bachelor’s in Management from Mumbai University and has earned his MBA International Business (HR) Degree from prestigious Amity University. He loves to invest his time in the laps of nature, and enjoys life to the fullest.