Indian realty again demands for industry status
Being hit by increased land rates, lack of funds and high interest rates, the real estate sector of India has again been demanding for industry status.
Despite the fact that 10 per cent GDP is contributed by realty sector which is the second largest employment provider of the nation, the central government is not giving its approval.
Builders and developers of India are annoyed as they are kept away from yielding benefits from financial institution sides, lower interest rates and easy approval processes.
Non-availability of land, increased land rates and input costs, delay in approvals, liquidity issues, lack of skilled labor- are the challenges faced by real estate developers in India. It is expected that getting industry status for realty sector would bring down such issues in real estate.
To read more real estate news:
Real estate players demand for industry status
Construction costs hike again!
Source: Business Today
Builders and developers of India, Central government, Developers in India, employment, Financial institution, Funds, GDP, Industry status, input costs, Interest rate, Land rates, Real Estate Developers, Real estate sector of India
