Chidambaram asks IBA for solutions regarding real estate sector
In order to address issues plaguing the real estate sector, Finance Minister P Chidambaram on Saturday asked help from Indian bankers.
He has asked Indian Bankers Association (IBA) to form a committee to advise the government on tackling the slowdown in the housing demand.
He stated that various issues facing the real estate sector need to be solved – problems of demand for housing one side, incomplete housing projects on other side and completed housing segment which are lying vacant on the third side.
Interest costs have increased significantly in the past couple of years, making situation more complex.
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