Budget projects, vertical expansion and easy finance options could be the way forward to meet the surging demand of housing in the national capital region (NCR) as well as in the country.
At the Mint Real Estate Conclave held recently, this was the consensus that emerged among a panel of industry experts and decision makers who debated on the challenges that confront the real estate sector amidst growing skepticism after the global economic slowdown.
Getamber Anand, vice-president, Confederation of Real Estate Developers’ Associations of India, pitched for relaxed monetary policy for the sector.
“The real estate sector has least Non-Performing Assets (NPAs) in comparison to other sectors like power. And yet, when it comes to giving us easy finance options, we are seen skeptically,” he said.
National Real Estate Development Council president Navin M Raheja too agreed. “We are prepared to take on challenges if the policy makers trust us,” he said even as he vouched for high-rise buildings as the solution to make up for scarcity of housing options.
Romi Roy, urban planner, DDA, said there was a need to develop civic infrastructure to cater to the rising number of homebuyers.
She also admitted that urban planners haven’t been able to deliver promising solutions to the problem of affordable housing and viable city infrastructure that could accommodate pressures of rising population.