CREDAI president stresses on reforms to boost realty
National President of the Confederation of Real Estate Developers Association of India (CREDAI) – Lalit Kumar Jain has asserted that reforms are necessary to boost the struggling realty sector.
He says that there is a shortage of 31 million houses in India of which 26 million are in the economically weak and low income group category. To bridge the shortage, manifold reforms have to be ensured by the government.
The reforms include administrative reforms relating to faster approvals, land reforms to protect green land and fostering urban infrastructure through higher density and removal of FSI norms. Fiscal reforms relating to tax, banking and procedural issues are also vital to the sector.
He adds that the cooperation with Indian Banks’ Association (IBA) will be able to usher in a bright side. Stressing on the government’s role, he further mentions that to manage pricing the government has to ensure supply which is the only way volumes will revive.
To read more real estate news:
Real estate incentives have to go beyond fiscal incentives: Observers
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