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Real estate needs industry status

Comments(4) Sub Category:Realty News,Uncategorized Posted On: May 02, 2012

The real estate is the second largest employment generating sector in India. The builders associations are demanding for a special status on a par with industry for this sector.

NAREDCO (National Real Estate Development Council) and CREDAI (Confederation of Real Estate Developers’ Association of India) made several representations to the Union government demanding special status for the sector.

Infrastructure status to the housing sector, special economic zone (SEZ) incentives for the housing finance, rental housing, and assessment for bank incremental deposits are among other demands made by the builders association.

According to the associations the industry status will help the sector to get bank loans on average interest rates and at low collaterals, against the existing high-risk rates.

More related stories:

CREDAI welcomes RBI decision on rate cut

Builders to stage a protest

CREDAI to send SOS to Prime Minister

Source : Economic Times

4 Responses to “Real estate needs industry status”

  1. [...] Real estate developers play an important role in the industry as they bridge the gap between the construction ability and the investor’s need. They cater to the value of a project in terms of design, functionality, cost and location. Apart from this, they also work hard in order to absorb international trends, deliver quality realty products and analyse the customers’ expectations. The developers form an important aspect of the realty sector as they fulfill the critical need for infrastructure in areas like housing, office space, retail and entertainment and others. [...]

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