Real estate scenario is shaping up for a better tomorrow: Parveen Jain,...

Real estate scenario is shaping up for a better tomorrow: Parveen Jain, Tulip Infratech

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We plan to develop commercial project in NCR and Haryana: Parveen Jain

Tulip Infratech is focused on developing around two and a half million sq ft of group housing and one and a half million sq ft of commercial project in NCR and Haryana and is looking traditional markets to grow its presence across India. The company recently announced its tie-up with China Construction to develop strategic infrastructure in India.

Replying to Yash Ved of Newsbarons, Parveen Jain, CMD, Tulip Infratech informed “We are committed to Government’s vision of developing world class infrastructure.”

NB: Brief us about your tie-up with China Construction?

Parveen: We have tied up with China Construction to develop strategic infrastructure in India.

We are committed to Government’s vision of developing world class infrastructure and our plans to team up with China Construction is to build and to maintain infrastructure projects as the company has rich expertise in this area.

The government is focusing a lot on development and expansion of highways, flyovers, road building and other infrastructure. The partnership would enable to leverage on the Chinese state-owned conglomerate’s strong financial strength and proven track record in Infra & construction to take on larger-scale infrastructure projects.

China Construction engages in construction, housing construction general contracting; infrastructure construction, including airports, railways, and bridges construction; and real estate and urban development, as well as construction of steel structures, plants, ships, and energy projects, as well as offers ready-mixed concrete.

NB: What impact have you seen in terms of GST and RERA?

Parveen: The impact of GST and RERA is in its nascent stage but still can be termed as positive with things becoming better in terms of getting structured, more transparent, streamlined, systematic and beneficial in the long run.

NB: Your view on the current status of real estate industry?

Parveen: With the introduction of new major policies like demonetization, RERA and GST, the dealings had slightly slowed down in the last year with buyers following a wait and watch policy but with things settling down, the scenario is shaping up for a better tomorrow with all stakeholders getting accustomed to RERA and GST.

NB: Your mix in terms of residential and commercial?

Parveen: We are majorly into Residential Group housing projects in comparison to commercial projects.