
Minister admits government missed real estate growth opportunities
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”.
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”.
Real Estate developers in Gujarat are unanimous to protest against the revised jantri rates. Even after their talks with the Government on Monday they have announced that they will continue their protest by not executing any sale deeds till May 5.
The Confederation of Real Estate Developers’ Association of India (CREDAI) Friday urged the central government to introduce single window clearance and a uniform tax structure for the sector across the country.
Addressing a press conference on Thursday, the newly-elected members of CREDAI National said the mission would give the real estate industry and all activities connected to it a fair image.
India’s housing shortfall is estimated to be around 27 million and Chennai city alone faces a deficit of 60,000 housing units.
Real estate developers have expressed their reservations to the proposed Real Estate Bill 2011, which is likely to see light by this year-end.
Real estate has emerged as the most preferred investment avenue for working professionals in non-metro centres vis-à-vis bullion and stock market.
China’s central government wants to weaken the industry’s vice-like grip on the political system as a means to avoid a Jasmine-type revolt.
Minister of Housing and Urban Poverty Alleviation Kumari Selja said in the Rajya Sabha the Real Estate (Regulation of Development) Bill is still being deliberated.
Real estate developers are trying to change perceptions. A new team of office bearers which took charge at the Confederation of Real Estate Developers’ Associations of India (CREDAI) has announced to work on a set of measures that will help builders deliver projects on time, redress customer grievances and improve governance to change image and perception of the sector.