Pune developers and builders seek lower interest rates, speedy project clearances
In the opinion of the developers and builders in Pune, the weakening realty sector is apparently set for a much-needed turnaround, provided that the Narendra Modi-led new Government at the Centre announces some immediate policy moves.
According to the Pune developers and builders, the most important expectations from the new Government are a lowering of interest rates, and faster clearances for real estate projects.
The real estate industry players, expecting reforms from the Modi-led Governement, believe that the cost escalation witnessed by the realty sector in recent times is an upshot of slow project clearance procedures.
Pointing out that the Pune real estate sector is “at the forefront of the sustainable housing movement that is sweeping the country,” JLL India’s Sanjay Bajaj – the real estate advisory company’s Managing Director for Pune – said that an encouragement from the new Government can have a beneficial impact on developers and buyers of green housing projects.
Meanwhile, asserting that focus on realty reforms should be a priority of the new Government, well-known developer Lalit Kumar Jain – who is the Chairman of the Confederation of Real Estate Developers Associations of India (Credai) – said that the expected reforms should ideally the realty sector’s administrative, tax, banking, and legal aspects.
Jain said: “We look forward to achieving the objective of mitigating the housing shortage and minimizing corrupt practices.”
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