Can policy paralysis lead to postponement of sales exhibition? Doesn’t sluggish market demand more pro-active sales drive? Is a completely sold out exhibition postponed because it anticipates no business in advance? Well, if MCHI-CREDAI is to be believed, they have postponed the Real Estate & Housing Finance Exhibition, PROPERTY 2012 Mega Show, scheduled to be held on 12th – 15th April, 2012, due to policy paralysis. However, it seems to be more a case of ideas paralysis.
A MCHI-CREDAI press release says with the realty industry coming to a standstill due to the prevailing policy paralysis, they have postponed all its exhibitions scheduled in the month of April in Mumbai, Raigad and Thane.
“It is with great anguish that, we have to inform you that MCHI-CREDAI’s 20th Edition of has been postponed until further notice” MCHI-CREDAI said.
“This”, it said, “is in spite of complete sellout of exhibition stalls.”
The data received from our member developers show that no clearances or permissions have been received for new projects over the last 18 months.
Moreover, several new rules and procedures, including new taxes and circulars, are being implemented with retrospective affect and our members are being subjected to financial and reputational losses,” the statement said.
MCHI-CREDAI pointed out that the industry is assailed by sky-high prices of land, at times constituting up to 60% of the project cost, and a plethora of overlapping procedural rules and regulations that “not only inhibit, but actually retard whatever progress is achieved in a project”.
“Real estate projects, undertaken with a great deal of effort, after securing countless permissions, NOCs and so on are yet brought to a standstill, because of a sudden change in rules,” the statement said and regretted: “This situation is appalling.”
“Given this situation, the Managing Committee of MCHI-CREDAI and all the 5 MCHI-CREDAI Units, at their meeting held the on March 20, 2012, decided to postpone all our exhibitions to be held in BKC, Thane and Raigad,” the statement added.
