Real estate experts feel that the year 2013 will be a good year for real estate sector. They all point out that the new policies implemented will be in favor of real estate sector.
With the newly implemented government policies, real estate sector is on the verge to thrive in the current year. If the 2012- end was noted for the initiation of many policies in favor of real estate sector, then the new year is expected for implementation of these policies.
Nahar Group’s Chairman and MD Sukhraj Nahar said that the real estate is undergoing through a transformation. He opined that the real estate has become more transparent in 2012 due to the fact that each participant has contributed to bring it out.
He expects that the government will initiate necessary steps to boost the real estate sector. He expects the govt. to bring in single window clearance for projects. The rate cut by RBI also is needed to revive the real estate sector. He feels that the govt. should allow the real estate buildersto lend from banks and the govt. should initiate policies for the same.
Marketing head of Lodha Group Samujjwal Ghosh, said that the real estate sector has shown signs of rebounding due to the real estate friendly policies of the government.
The economy also picked up due to the government initiatives. The lowered interest rates also had its role in reviving the economy. Indian economy witnessed a falling since the second half of 2011 and continued till the second half of 2012. But with the government, initiating some policies, the economy started reviving.
There were some norms related to Floor Space Index (FSI) as well. Even some of the real estate developers had asked the government to raise the floor area ratio (FAR) for building taller buildings. CREDAI – Kolkata wing, had informed that tall residential buildings have become the need of the hour as to meet the increased demand for houses.
CREDAI’s national chief Lalit Kumar Jain opined that the government and the RBI should work hand in hand to revive the sector. He also added that the finance ministry and housing ministry also should work hand in hand to provide better and affordable homes.
The area also has better connectivity and transportation facilities as there are Metro, Monorail and Freeway in close vicinity. He revealed that the group will go ahead with their City Center Project at New Cuffe Parade.