...call for one-time re­jig of real es­tate loans

The Hindu Business Line - - NEWS -

‘Hous­ing for all by 2022’ cou­pled with ‘smart cities’ vi­sion will be the cat­a­lyst to pro­pel the real es­tate in­dus­try growth, said a CREDAI res­o­lu­tion at it’s sec­ond edi­tion of New In­dia Sum­mit in My­suru.

CREDAI also high­lighted the im­por­tant and sig­nif­i­cant role the real­tors from smaller cities will play in the longterm growth of the in­dus­try and the econ­omy as a whole.

“The apex body, in or­der to sup­ple­ment this growth, aims to ex­pand to 300 city chap­ters by 2019 with the pri­mary ex­pan­sion tak­ing place in Tier-II, -III & -IV cities,” said CREDAI Pres­i­dent, Jaxay Shah, ad­dress­ing the sum­mit.

The New In­dia Sum­mit in Mysore de­signed to de­lib­er­ate the growth of real es­tate sec­tor in tier II, III & IV cities, saw over 1000-mem­ber de­vel­op­ers and ex­perts from the real es­tate sec­tor from across the coun­try at­tend­ing.

CREDAI strongly be­lieves that fo­cus­ing on smaller cities, will not only re­sult in qual­ity in­fra­struc­ture and im­proved stan­dards of liv­ing but also gen­er­ate growth in em­ploy­ment op­por­tu­ni­ties in In­dia’s vast hin­ter­land.

CREDAI also took up few pol­icy cen­tric rec­om­men­da­tions to sus­tain the growth and de­vel­op­ment of the real es­tate sec­tor across the coun­try in­clud­ing ra­tio­nal­i­sa­tion of GST, sin­gle win­dow clear­ance for projects and one­time re­struc­tur­ing of all real es­tate loans.

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