The Confederation of Real Estate Developers'
Association of India (Credai) urged the government to introduce new reforms and
ensure their prompt implementation to revive the real estate sector.
In a statement, the industry body said it need fast
implementation of reforms in the New Year or else there is a risk of losing
steam and sought "political will" for reforms. Credai also called for
government's intervention to facilitate low-cost funding for home buyers as
well as developers.
Rising prices of steel and cement continue to be a
cause for concern and the Centre needs to take steps to regulate the prices, it
said.
"The continuous fall in fuel prices is not
translating into price reduction of cement, steel and even transport. In spite
of slowdown in consumption, we saw a huge rise in cement and steel prices. The
government needs to regulate steel and cement prices just as the power
regulators monitor tariff," Credai said.
"Besides rising prices, high lending rates by
banks have hit the realty sector severely. With a lot of positive outlook and
hopes shown by the new government, we anticipate that land, administrative tax
and banking reforms will be executed without further delay," it added.
No comments:
Post a Comment