In the last two decades, the real estate industry has witnessed unprecedented growth. Our cities have changed way beyond recognition. The cement mixers have literally never stopped churning since real estate developers started to cash on India’s housing dreams. Unfortunately, this mad race for ‘development’ has impacted the environment adversely, which has manifested in the form of floods in Chennai, smog in Delhi, and frothing lakes in Bangalore. With the Union Budget fast approaching, we spoke to a few industry experts who strongly believe that Mr Jaitley should address these environmental changes.
Urging the government to roll out policies for green buildings, Anuj Puri, Chairman, ANAROCK Property Consultants says, “Higher incentives for green buildings are the need of the hour in India’s deteriorating urban environment.” He opines that the marginally higher cost of construction of green buildings has kept the majority of developers away from such projects.
Special impetus to the electrical lighting sector
India is all set to become the most-populous country in the world by 2030. An anticipated increase in urban population of 500 million people during 2010-2050 in megacities like Mumbai, Delhi, Bangalore, and Kolkata will pose a huge challenge to meet the electricity demand.
VP Mahendru, Chairman and Managing Director of EON Electric Ltd. said, “This year, we request the Finance Minister to give special impetus to the electrical lighting sector by reducing excise duty on the manufacturing of LED lights and reduction of import duties on the raw material for LED lighting products. This will help India to achieve its mission of using LEDs for all lighting needs by 2019, which will save Rs 40,000 crores annually.”
Energy conservation
Shrinivas Chebbi, President, Building Business, Greater India Zone, Schneider Electric India said he expected the Union Budget 2018 to have significant growth-centric announcements in terms of energy conservation.
“We also expect the budget to hold stringent norms for the successful implementation of the Energy Conservation Building Code (ECBC) 2017,” he added.
Push for ‘Make in India’
Mahendru further urges that the government should put a check on the import of spurious and Chinese LED/lighting bulbs. “Our government should increase customs duty on the import of LED/lighting bulbs/CFLs. This move will also support the “Make in India” campaign in a big way.”
