C N Govindaraju, President, Credai Bengaluru
The Confederation of Real Estate Developers’ Association of India (Credai) Bengaluru will hold a two-day zonal realty expo at Kalyani Kala Mandir opposite to IIM-Bangalore on Bannerghata Road on February 14 and 15.
C N Govindaraju, President, Credai Bengaluru, said: “The real estate sector is expected to grow at the rate 8-9 per cent this year. The required clarity on investment in Real Estate Investment Trusts (REITs), improved market sentiment and more efforts by the government to reduce project loopholes and bottlenecks in transactions will go a long way in clearing the way for positive movements in 2015.”
In Bengaluru, some of the key infrastructure projects like the Elevated Expressway, Bangalore-Mysore Infrastructure Corridor (BMIC), Metro Rail and the proposed Peripheral Ring Road (some of them are operational now), which are being developed now, will support the development of real estate market.
Explaining the growth, Suresh Hari, Secretary, Credai Bengaluru, said, “After a slow growth in the last four quarters, the sector saw good pick-up especially after bank rates were lowered. The overall inflation reduction due to crude price has also contributed to the fund flow into all sectors including real estate.”