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Below the Quote on Pre-Budget Expectations by Mr Manish Mehan, CEO and MD of TK Elevator India

"As we approach the 2024 Union Budget, the real estate industry anticipates reforms and incentives to spur growth and innovation. With new metro projects enhancing urban connectivity, there's a significant opportunity to stimulate residential and commercial real estate markets. Additionally, the elevator industry, which plays a crucial role in high-rise developments, anticipates policies that support modernization and sustainability. In particular, we hope for GST reforms that reduce the tax burden on construction materials and elevator installations, making development projects more economically viable. Streamlining regulatory approvals, providing tax benefits for sustainable and green buildings, and incentivizing modernization efforts in the elevator sector will be crucial. A budget that aligns real estate growth with elevator industry advancements can enhance urban infrastructure, improve quality of life, and drive sustainable economic development."

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