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Below the pre-budget expectations by Mr. Manish Mehan, CEO and MD of TK Elevator India

“The real estate sector plays a significant role in the nation’s economic growth. The sector is looking forward to policy interventions that promote sustainable development, encourage foreign direct investment, and streamline regulatory processes. The real estate industry is hopeful that the upcoming budget will incorporate transformative measures that will invigorate the Indian real estate sector. Some of the key demands that realty sector stakeholders want from Union Budget 2024-25 are Industry Status and Interest Subvention Scheme, Reduced GST Rate, Infrastructure status to the affordable housing segment, addressing liquidity concerns, and simplifying regulations. Having said that, the elevators have become an integral part of modern urban living. In India, where real estate is booming and infrastructure is rapidly evolving, elevator industry is playing a crucial role in ensuring efficient vertical mobility. A growing and well performing real estate industry will certainly propel the growth of elevator industry.”

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