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This Is How Concrete Equipment Demand Will Rise Due To Real Estate Act
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The Real Estate (Regulation and Development) Act, 2016 is set to change the Indian real estate face. The Act which mostly protects the right of home buyers will boost the demand for affordable housing, which leads to the demand of concrete equipment used for building construction.
The Act will cover both housing and commercial real estate projects and need to be registered with the Regulatory Authority.
The Act aims to improve timely project completion and increase transparency in real estate sector. As per the Real Estate Act 2016, Real Estate Regulatory Authorities (RERAs) will be formed and it will minutely monitor each stage and approvals of the building construction.
Usually real estate projects stalled due to financial crunch and it leads to delay in delivery. To ensure the time execution, RERAs will ensure developer’s deposit 70 percent of collections in a dedicated bank account towards the cost of construction.
Online real estate advisor PropTiger’s said in its ‘Reality Decoded Q4 FY16’ report that “Real Estate (Regulation & Development) Bill (Act), 2016 which aims to bring transparency and accountability into the sector (real estate), is set to boost home buyers’ confidence in the sector.”
This buyer’s friendly Act will bring the confidence among home buyers and encourage them to buy affordable housing.
India Ratings & Research said in its ‘FY17 Credit Outlook’ report that ‘The efficient implementation of the bill (Act) will lay out the landscape to improve buyers, lenders and investor confidence, which is crucial for long-term growth capital for developers. The bill may impact the cash flows of developers in the short term; however it will result in a more responsible industry.”
As more housing demand will rise across the country after the implementation of the Act, the demand of construction equipment will jump.
Demand of construction equipment from all four segments of construction equipment will rise , Earth moving equipment (Backhoe Loaders, Excavators, Wheel loaders, Dozer, Dumpers/tippers, etc.), Material Handling (Cranes, Industrial trucks, Forklifts, stackers, etc.), Road Equipment (Asphalt plant, Tandem roller, road paver, etc.) and Concrete Equipment (Transit mixers, concrete pumps, batching plant, aggregate crusher, etc.). Especially the demand of concreting equipment is expected to jump as the construction of housing required various concreting equipment the most.
Transit mixers, concrete pumps, batching plant, aggregate crusher are very important concreting machine used for housing and commercial projects. Other equipment like Cranes, Backhoe Loaders, Excavators, Industrial trucks, Forklifts are crucial construction equipment used for different types of construction works in across the construction sector.
As per the PropTiger report, affordable housing (range of Rs 25-50 lakh) demand has jumped 38 percent in January-March quarter in 9 major cities, which is likely to jump further after the implementation of Real Estate Bill (Act).
Heavy construction equipment market is to revive which was limping due to stalled infrastructure projects across the sector for last few years. Now the government is investing heavily and doing policies revival to meet the housing, roads, highways, railways, ports, aviation, power and other infra projects to meet the rising demand.
Both new and used concrete equipment demand will grow due to rising affordable housing. The increase in construction projects will drive the business of concrete equipment manufacturing companies in India.
Source: Information has been obtained from government press note, PropTiger report, India Ratings & Research report.
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