3C Company - Budget reaction

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Please find below the budget reaction from The 3C Company, a estate player.

Vertika Saxena / 09811708336

Press Release

‘Budget not packaged well for the real estate sector’

says Vidur Bharadwaj, Director, The 3C Company

New Delhi, July 06, 2009: Reacting to the Budget announced today by the Finance Ministry, Mr. Vidur Bharadwaj, Director, The 3C Company- a pioneer in developing green constructions- said that the budget is positive for the over all economic development but is not packaged well for the real estate sector.

“Though the budget has introduced fresh life into the infrastructure segment, the real estate sector has remained out of focus. Home loans and interest rates have not been touched at all. In addition, the budget does not indicate any encouragement to environment sustainable constructions. With environment related problems increasingly becoming a cause of concern, the government could have taken a path-breaking initiative by formally introducing some tax benefits for eco-friendly constructions in our country,” explained Mr. Bharadwaj.

“On the whole, the budget is very pragmatic and futuristic. It is encouraging due to its focus on infrastructure, education, agriculture, irrigation, health care and social security schemes. These aspects augur steady economic growth. However, it has not changed much on the ground for realty sector and things remain neutral for us” Mr. Bharadwaj said.

About The 3C Company

The 3C Company is a pioneer in conceiving and executing Green Developments in Delhi and NCR. With the prime focus on delivering state of the art energy efficient buildings the group has already delivered over 12 Million Sq. Ft. of niche developments. The impressive portfolio of 3C includes WIPRO and PATNI CAMPUS at Gurgaon and Noida, respectively, which are amongst the very few buildings in India to have been awarded as the PLATINUM rated LEED (Leadership in Energy and Environmental Design) certified Green Buildings under the USGBC (United States Green Building Council) umbrella.

For further information, please contact:

Anubha Laroiya, D.G.M, Corporate Communications, The 3C Company Phone: 09910695969 Email: Anubha@the3c.in

Kanika Bajaj /Vertika Saxena Adfactors PR Pvt. Ltd. Mobile: 9711306551 / 09811708336 Office no: 01140565137 Email: kanika.bajaj@adfactorspr.com vertika.saxena@adfactorspr.com