‘Not enough policy support for real estate’
Nov 16, 2013
Source : The Times of India

CHENNAI: The real estate sector is not getting adequate support from banks and policy makers despite its contribution to economic growth, according to Lalit Kumar Jain, Chairman, Confederation of Real Estate Developers Association of India (CREDAI).

Over Rs 50,000 crore of bank loans are on the verge of being treated as bad debt as banks refuse to restructure these loans even though adequate collateral is available with developers, he added.

Addressing the inaugural of Southcon 2013, a two-day seminar on realty organised by CREDAI, he said the world over the housing market is an indicator of growth. But in India it does not get adequate incentives. Cost of approvals account for over 40 per cent of sales cost, he said.

N. Ram, Chairman, Kasturi and Sons, the publisher of The Hindu Group of publications, said real estate sector is an important part of national economic activity but is “under-estimated and sometimes demonised” due to misconceptions that it makes super profits. The media too tends to rush into judgement.

It is “fair enough” if the real estate sector complains when the news coverage is not fair and reliable. But the construction industry too should not be “over sensitive” as long as the media gets the facts right. He commended CREDAI for spelling out a code of conduct. If this is enforced to address customer needs a “tremendous job would have been done”, he said.

Transparency in project approvals and according of industry status to the real estate sector are crucial for sustained economic growth and job generation, according to T. Chitty Babu, Chairman, Southcon 2013.

Latest Realty News

Seven factors to consider before buying home for yourself
Nov 15, 2013
CHENNAI: Buying property is a lifetime decision. Whether you buy it for end use or for the purpose of investment, it takes a lot of research and due diligence. No doubt, budget and location are among the primary factors that help in short-listing but the final decision is generally based on the combination of several other factors. Some of the top factors include the following.
Real Value Promoters launches super luxury project--Czar
Nov 12, 2013
CHENNAI: Real estate developer Real Value Promoters today announced its upcoming luxury project -- Czar's to be set up in the city.
High-end homes of Real Value
Nov 09, 2013
CHENNAI: Czar’s is a luxury residential project at the upmarket R.A. Puram. The project from Real Value Promoters offers 18 apartments of 4,500 to 6,000 sq.ft with premium features. Priced at about Rs 29,300 a sq.ft, an apartment at the project will cost about Rs 14.5 crore to about Rs 20 crore.
Govt to finalise draft policy on incentives for green buildings
Oct 28, 2013
CHENNAI: The Centre was finalising a draft policy on non-financial incentives to promote green buildings, a top official of the Ministry of Housing and Urban Poverty Alleviation said here today.
BBCL Sukriti offers luxury apartments
Oct 28, 2013
CHENNAI: Bharat Building Construction (I) Pvt. Ltd is developing ultra luxury apartments in T. Nagar, the residential and commercial hub of Chennai.
The landlord-tenant relationship
Oct 28, 2013
CHENNAI: Very often, the relationship between a tenant and a landlord is not the most pleasant. It is characterised by conflict of interest, bitter conversations and, sometimes, legal battles.
‘Chennai is a robust market’
Oct 28, 2013
CHENNAI: Over the last decade, VGN Developers has evolved from selling plotted layouts to developing residential projects in the suburbs to building high-end projects in the city. The transition has been in line with the trends in the residential market. VGN believes there is a huge demand for high-end homes in the city, which is a healthy and robust market in which prices have not crashed in three decades. Pratish Devadoss, Managing Director, shares some of the company’s plans and views on the
Four steps to successful real estate investment in Chennai
Oct 25, 2013
CHENNAI: Whilereal estate is one of the most popular asset classes, it requires a combination of knowledge and discipline to generate healthy returns on investment. Here are four steps that could help you in making a successful decision and reap rich rewards in the long term.
Livability and connectivity drive real estate in Vadapalani
Oct 24, 2013
CHENNAI: With residential options ranging from multi-storey apartments to builder floors available within a wide budget of Rs 50 lakh to Rs 2 crore, Vadapalani is one of the most preferred residential locations in Central-west Chennai. Let’s take a closer look at what makes Vadapalani a locality of choice.
Porur registers 40% increase in prices in 2 years
Oct 24, 2013
CHENNAI: A 1,000-sq ft apartment in a multi-storey project, which was selling at Rs 35 lakh until September 2011 in Porur is now available for Rs 50 lakh, as per MagicBricks.com Research. The locality has registered almost 40 per cent growth in prices, in the past two years.

Latest Realty News Of State

Realty Talk's