Our economy was shattered due to the recession, but thanks to the upswing the domestic economy is showing good signs of improvement and the point of concern is that the Indian Realty segment is still in a pathetic situation. The saturation in the residential and commercial segment of realty will pose a serious challenge to the realtors in the coming years. On a short note with www.propertykhazana.com, the DLF Chairman said that the realty segment will go ahead and witness growth and most of the players who do not have good records in realty will form a part of the normal cycle of growth. He also added that he is thanking the government for commending his work and rewarding it. He noted that it is a tribute to all those people who worked towards making “New India”. Furthermore, he also stressed on the fact that the entire construction segment will see greenery.
He took no time in commending the yeoman service which the government has done to make sure there is flow of funds in the real estate segments. As per the sources saying at www.propertykhazana.com, the government has to play out of its skin to push the realty to the zenith and make it a source of employment generation and remove the bad opinion which is implanted in the minds of the people. He also added that “Realty is the heart of Indian economy, because it adds on to the Gross Domestic Product (GDP) and will be one of the highest generators of employment. The recognition to the industry is slowly and steadily taking place and both government and realtors must boost the segments. Unfortunately, no initiatives have been taken to boost this sector. The approach at the ground level must be changed.
Mega reforms must be initiated in the realty segment and change the ancient rules and ideas which are obstacles to the growth. The Realty has been a nagging area. Most of the changes will play an important role in the growth of illegal developers, builders and promoters. They grow like parthenium plants which must be take out from the root itself. Unfortunately they constitute more than 60% approx in our nation. RBI has played a vital role to distress the realty loans beyond one year. Hence as a result, the entire loan policies were reformed to make the life easier. According to the scholars in this field, “Most of the companies are not able to achieve targets which severely will impact the business”.
As per the sources at www.propertykhazana.com, as far as the control of the system is concerned, the activity has to be legalized because it will lead to the growth of anarchy. The realty is matter of state and the center will have limited role to play. The government must provide a change in the approach. India must have big heads to solve the issue and change the narrow attitude must be removed. The nation is going to adopt just and equal utilization of the resources. India of 21st Century must be thinking big. For more information, please visit the website www.propertykhazana.com.
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