With the shining of 2007, Realty sector also Shining
First of all
A Very Happy New Year
Realty sector in India is shining rightnow. Year 2006 is really good for the real estate investors.The industry is really happy with the way it is growing; prices are rising and sales are superb. It’s a great time.” It was on this positive note that renowned architect Hafeez Contractor began the ‘ET THINK TURF - PRE BUDGET FORUM 07- REAL ESTATE SECTOR’. Of course, he immediately switched to a more serious issue by talking about the other side of the story - the growing slums in Indian cities and inadequate infrastructure. “Why is it that our cities cannot finance infrastructure? Why is it that our cities cannot house these millions of people living in slums? Why is the existing infrastructure crumbling? Why is it that we are not able to take into account new taxation policies?” These were some of the very pertinent questions that he raised before he turned to his favourite topic of FSI. He said that increasing FSI was one of the important issues that the Budget needed to highlight. “We have to think about how we are going to house the millions of our growing population” he said and suggested that a higher FSI could be one of the solutions to the housing problem.
It was very important for the real estate industry to plan for the future rather than for the present. “The biggest concern has been the sharp increase in prices of real estate. The only way which I feel has worked everywhere and I am sure will work out here is to ensure that supply grows at a pace that is faster than demand. That’s what happened in China, that’s what people have worked towards in different economies and that’s what we need to do here.” He also discussed the overall nature of the industry and the way it functioned. “The amount of approvals that you need to take, the amount of legal hassles that you need to go through to become a real estate developer means that it’s a reserved category for select people who can manage this whole thing. What we need to do is change that. We need to ensure that this whole process is quite transparent wherein different people can get into this. He also said that it was very essential for the growth of the industry to get organised finance apart from becoming more transparent.
A Very Happy New Year
Realty sector in India is shining rightnow. Year 2006 is really good for the real estate investors.The industry is really happy with the way it is growing; prices are rising and sales are superb. It’s a great time.” It was on this positive note that renowned architect Hafeez Contractor began the ‘ET THINK TURF - PRE BUDGET FORUM 07- REAL ESTATE SECTOR’. Of course, he immediately switched to a more serious issue by talking about the other side of the story - the growing slums in Indian cities and inadequate infrastructure. “Why is it that our cities cannot finance infrastructure? Why is it that our cities cannot house these millions of people living in slums? Why is the existing infrastructure crumbling? Why is it that we are not able to take into account new taxation policies?” These were some of the very pertinent questions that he raised before he turned to his favourite topic of FSI. He said that increasing FSI was one of the important issues that the Budget needed to highlight. “We have to think about how we are going to house the millions of our growing population” he said and suggested that a higher FSI could be one of the solutions to the housing problem.
It was very important for the real estate industry to plan for the future rather than for the present. “The biggest concern has been the sharp increase in prices of real estate. The only way which I feel has worked everywhere and I am sure will work out here is to ensure that supply grows at a pace that is faster than demand. That’s what happened in China, that’s what people have worked towards in different economies and that’s what we need to do here.” He also discussed the overall nature of the industry and the way it functioned. “The amount of approvals that you need to take, the amount of legal hassles that you need to go through to become a real estate developer means that it’s a reserved category for select people who can manage this whole thing. What we need to do is change that. We need to ensure that this whole process is quite transparent wherein different people can get into this. He also said that it was very essential for the growth of the industry to get organised finance apart from becoming more transparent.
posted by praveen @ 10:36 PM
0 Comments:
Post a Comment
<< Home