 "Adi Godrej sees a turnaround in real estate if BJP comes to power")
The just-released Bhartiya Janata Party (BJP) poll manifesto suggests the NDA government would be growth-oriented if they come to power, according Adi Godrej, chairman of Godrej Industries.
Godrej told CNBC-TV18 that he expects the NDA government to be reformist and pro-development and initiate steps to moderate tax rates.
Godrej Properties , the real estate development arm of the Godrej Group, on Monday announced a new residential township project in Bengaluru.
Adi Godrej believes the an NDA-led government will be a sentiment boost for the struggling realty sector.
“They will try and correct some of the reasons why our growth has decelerated and some of the negatives such as the retrospective amendments in the tax laws etc will sought to be corrected. So I feel it will be very good for the economy if they can form a government without too many hitches in terms of having to take support from people who are not likely to support their main agenda,” Godrej told CNBC-TV18.
Godrej expects the BJP to correct the negative perception created by the retrospective amendments.
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