Affordable housing will drive growth in realty sector: Govt

Posted By: Staff
Subscribe to GoodReturns

Affordable housing will drive growth in realty sector: Govt
New Delhi: Housing policies for affordable housing will be the driver of reviving growth in the realty sector, a senior government official said on Wednesday.

Housing for all by 2022 is also the key agenda of the new government. Despite the visible benefits, the housing sector is facing myriad challenges in terms of regulatory and policy challenges, Ministry of Housing and Urban Poverty Alleviation Karan Bir Singh Sidhu said.

Sidhu was speaking at the conference on real estate Reviving Growth for Real Estate in the National

Capital Region jointly organised by Confederation of Indian Industry (CII) and CREDAI NCR, here on Wednesday.

"Government policies for affordable housing will be the key enabler for the reviving growth in real estate in National Capital Region," Sidhu said in a statement.

Speaking at the same event, CII Northern Region and President-Building & Industrial Systems Zubin Irani said that the real estate sector is the growth engine of the Indian economy and the economic contribution of the sector is projected to doubled by 2025.

Irani added that Delhi NCR markets are currently undergoing a trough phase in the real estate market cycle which also helps in reviving the growth in terms of real estate.

Real estate sector body CREDAI NCR Rohit Raj Modi said that Delhi NCR represents around 55 per cent of housing market.

"All NCR states are attractive investments destinations for the real estate. To discard the shortage of housing sector, not only private sectors, but also lots of policies and efficient surface transport are required,"Modi said.


Read more about: credai
Story first published: Thursday, September 25, 2014, 8:02 [IST]
Please Wait while comments are loading...
Company Search
Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'