Realty builds on stability theme
The Economic Times, May 24, 2009
Neha Dewan, ET Bureau
A stable government indicates a glimmer of hope for the real estate sector, feel a number of realty developers and consultants. Affordable housing will get an impetus and sentiments are bound to improve, according to them.
Navin M Raheja, MD, Raheja Developers says that the coming of a stable government means that the real estate sector is poised for a bounce back and revival. "Formation of a stable government will certainly bring back the lost confidence among investors and end-users. Affordable housing will get all ears and accomplishment. There should be good news very soon that housing will be available for all the segments of society."
Like Mr Raheja, others too are of the view that affordability will gain prominence in the new government. "We expect that government will promote affordable housing in a more aggressive manner. We also hope that the government will announce special funds for building affordable corridors for needy sections of the society and give easy clearance for these projects," says Rohtas Goel, CMD, Omaxe.
Besides affordability, some feel that there is a clarion call for key issues to be addressed. Since the real estate sector has not fared well over the past year, they feel that a lot more proactiveness will be required to make it recover.
"The new regime will need to address the serious infrastructural deficit in our metros, as well as that in many short-changed Tier II/III cities. We are hoping for measures to make construction of mid-to-low income housing attractive to developers, an easement in procedures for the clearance of new projects and the clarification of the SEZ/STPI issue. Coupled with generalized efforts to boost the GDP, these measures will give the Indian real estate sector a badly-needed shot in the arm," feels Anuj Puri, chairman and country head, Jones Lang LaSalle Meghraj (JLLM).
Agrees Anshuman Magazine, chairman and MD, CB Richard Ellis, South Asia, who says that the outcome of the elections means continuity and more aggressive decisions to stimulate the economy. This, according to him, will have a direct impact on the real estate sector.
"We have already seen some movement in the market since last month and with these results, the sentiment will improve significantly. However the real estate industry is expected to remain slow this year and will continue to face challenges. A gradual movement towards improvement is however expected to begin soon enough," he says.
The Economic Times, May 24, 2009
Neha Dewan, ET Bureau
A stable government indicates a glimmer of hope for the real estate sector, feel a number of realty developers and consultants. Affordable housing will get an impetus and sentiments are bound to improve, according to them.
Navin M Raheja, MD, Raheja Developers says that the coming of a stable government means that the real estate sector is poised for a bounce back and revival. "Formation of a stable government will certainly bring back the lost confidence among investors and end-users. Affordable housing will get all ears and accomplishment. There should be good news very soon that housing will be available for all the segments of society."
Like Mr Raheja, others too are of the view that affordability will gain prominence in the new government. "We expect that government will promote affordable housing in a more aggressive manner. We also hope that the government will announce special funds for building affordable corridors for needy sections of the society and give easy clearance for these projects," says Rohtas Goel, CMD, Omaxe.
Besides affordability, some feel that there is a clarion call for key issues to be addressed. Since the real estate sector has not fared well over the past year, they feel that a lot more proactiveness will be required to make it recover.
"The new regime will need to address the serious infrastructural deficit in our metros, as well as that in many short-changed Tier II/III cities. We are hoping for measures to make construction of mid-to-low income housing attractive to developers, an easement in procedures for the clearance of new projects and the clarification of the SEZ/STPI issue. Coupled with generalized efforts to boost the GDP, these measures will give the Indian real estate sector a badly-needed shot in the arm," feels Anuj Puri, chairman and country head, Jones Lang LaSalle Meghraj (JLLM).
Agrees Anshuman Magazine, chairman and MD, CB Richard Ellis, South Asia, who says that the outcome of the elections means continuity and more aggressive decisions to stimulate the economy. This, according to him, will have a direct impact on the real estate sector.
"We have already seen some movement in the market since last month and with these results, the sentiment will improve significantly. However the real estate industry is expected to remain slow this year and will continue to face challenges. A gradual movement towards improvement is however expected to begin soon enough," he says.
Posts
No comments:
Post a Comment