Govt directs realty companies to focus on construction of homes for economically weaker section - infrabuddy.com

Govt directs realty companies to focus on construction of homes for economically weaker section

Joint Secretary, Ministry of Housing & Urban Poverty Alleviation Mr. Karan Bir Singh Sidhu has insisted on ‘Real estate developers should focus on catering to housing demand of lower income group and economically weaker section, a the shortage is about 2 crore homes in the country, with the majority of the percentage exists among the EWS/LIG section of society.

He urged developers to move on from to low margin-larger volume business. As the supply is more in the middle and higher income segment, the private sector needs to play an important role providing homes to LIG/EWS section. Lalit Kumar Jain, Chairman, CREDAI emphasized upon online approvals of realty projects to regularize housing supply and real estate prices.

He added that even if the sentiments have improved; the ground realities like delays in environmental and aviation clearances still exist. Industry stressed upon the need for business friendly policies and ease of financing to avoid liquidity crunch keeping in mind the long-term growth perspective of the real estate sector.

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