Urban Development Minister Kamal Nath admitted today that “the government has not responded to the tremendous growth in the real estate sector in the last one decade appropriately”. Addressing the 11th National Conference of CREDAI (Confederation of Real Estate Developers’ Association of India) in Singapore, he said not much progress has been made in the area of “land economics” too.
Asking the government to facilitate a single window clearance to help bring down corruption in the real estate sector, CREDAI President Lalit Kumar Jain said, “India is one of the most corrupt countries in the world and the real estate sector is its biggest contributor.”
While “affordable housing” has become a favourite subject of politicians, not much has been done to develop it. The sector has to bear with huge delays in approval of projects and also risk stoppage of work.
