Mumbai to focus on sustainable developement
Realty experts say that Mumbai should focus on sustainable development.
According to sources, the sustainable rate in the country is hardly 2.8% when compared to the global standards of about 25%. Since the real estate plays a major role in the development of economy, it is important that sustainable development be adopted on a faster pace.
The MCHI-CREDAI is trying to put an end to the cash crunch which is prevailing in the Indian realty sector. One of the best ways to reduce the cash crunch is to raise the credit limit which is available for the projects. CREDAI feels that the government should reduce the interest rates on the housing loans in order to boost demand for projects as well as reduce the delay in granting approval to projects.
However, following the above steps will also help the developers to save money and time. Also the cost savings can be transferred to home buyers in the form of price reductions in projects.
Cash crunch, CREDAI, Development, global standards, Indian realty sector, MCHI-Credai, Mumbai, Realty experts, sustainable development, sustainable rate
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