The two-day conclave will address various issues faced by the industry and will highlight the great potential of the real estate sector in catalyzing and rejuvenating the growth trajectory of the country.
The housing and real estate sector have high multiplier-effect on 300 different manufacturing industries, such as steel, cement, electrical, lifts, etc. Given the high employment potential, these sectors, next only to the agriculture, can collectively create a positive and widespread impact on the Indian economy.
Speaking about the different issues concerning the real estate sector, Shekar Reddy, President, CREDAI National said, “The housing & real estate sector is poised to grow rapidly in the next 15 years and require an investment of $ 1.2 trillion in this period. To facilitate this growth the approving authorities will have to do away with their processes which are sluggish and cause inordinate delays in project plans approval etc., escalating the construction cost by 35 – 40 percent. The customers can save almost 25 per cent by merely cutting down the delays in the approval processes and can purchase a house at much affordable price.” He further advised the governments to institute the “Single Window – Online Approval Mechanism.”