Land bills may affect real estate growth: Unitech
Unitech, a New Delhi-based real estate developer, has expressed apprehension about various regulatory measures to be taken up to regulate real estate industry.
He stated that various bills related to land and real estate sector may impact the sector’s growth if proper balance is not maintained between the various stakeholders’ interests.
Land Acquisition, Rehabilitation and Resettlement Bill, 2011 and Draft Real Estate Bill, 2011 are some of the bills that have come up recently. The developers are wary of these bills stifling the growth of the real estate sector which is already going through a grim phase.
Unitech witnessed a sharp fall in its revenue from operations in 2011-12 at Rs 2,422 crore against Rs 3,396 crore. The fall is recorded at 29 per cent.
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