RERA has been announced with the aim of increasing transparency and standardization in the real estate industry and its various stakeholders including buyers, developers, brokers and investors.
Speaking to CNBC-TV18, Kamal Khetan, Chairman and MD of Sunteck Realty said that the company has strong cash flow which will help it get in the affordable housing segment.
Kamal Khetan â€“ CMD, Sunteck Realty is of the view that the Finance Minister has taken a cautious, yet courageous path with his Budget announcements. It will reap long-term benefits for the economy on a whole.
Kamal Khetan, CMD, Sunteck Realty, says post the Kotak exit, Sunteck City is a 100 percent subsidiary of Sunteck Realty and the company is not planning to raise any further funds for this project.
"In less than four years, Sunteck Realty managed to provide Kotak an exit for around Rs 270 crore, a return of nearly 22 percent," Sunteck Realty said in a statement here.
Kamal Khetan, Chairman and Managing Director at Sunteck Realty, discusses company's performance for the fourth quarter and future outlook.
Kamal Khetan, chairman and managing director, Sunteck Realty, calls it a growth oriented budget with long term benefits
Sunteck Realty, which caters to ultra luxury & luxury residential segment, is planning to launch four new projects in areas like Borivali, Andheri, BKC and Navi Mumbai, this quarter.
Sunteck Realty aims to post a profit after tax of Rs 300 crore for FY14. With its current expansion and new launches, the company will see growth of atleast 20-25 percent in the profit that it shows this year.
The Finance Minister’s move to allow External Commercial Borrowing for developers engaging in value housing has pleasantly surprised the sector.