1.Pacing up infrastructural development should be the primary focus of the government. Infrastructure is important when it comes to real estate development being viable not only in new micro markets but also in established micro markets that have witnessed stagnation on account of an infrastructure deadlock.
2. Easing interest rate should be another primary focus of the union budget. Real estate industry would be positively affected by it as cutting down interest rates means an increased liquidity flow in the economy. Consequently, real estate will reap rich dividends. Moreover, if banks cut down the loan interest rate, buyers with disposable income would invest in the realty sector.
3. Single window clearance system must be introduced. Due to complexities of government channels, many projects get halted and delivery is delayed. A speedy completion of stalled projects is essential.
4. Clearer and loophole-free policies are shall be introduced. Frequent change in policies and regulations affect the construction. A clearer, faster and more transparent execution.
5. Macro Investment Initiatives to Boost REIT’S and FDI that encourage and foster development of the country at large and usher in a demand and supply balance need to assume key focus stated Mr. Kamal Khetan, CMD, Sunteck Realty Ltd.