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Real estate regulator needed: Ficci-E&Y

india Updated: Sep 15, 2010 23:44 IST
HT Correspondent
HT Correspondent
Hindustan Times
Real estate regulator needed: Ficci-E&Y

The creation of a regulatory body for real estate, granting of infrastructure status to housing, liberal policies for real estate mutual funds and investment trusts, change in foreign direct investment (FDI) norms and easier approval process are key requirements to spur growth in India’s realty sector, said a joint study by industry body Ficci and consulting firm Ernst & Young.

The study said of nine countries – India, China, USA, UK, Germany, Singapore, UAE, Brazil and Russia – the most economically proactive and politically stable nations are those likely to hold the most significant potential for future investment in real estate.

It also advocated the cause for a regulatory body for the real estate sector in the country.

The study favoured allowing real estate mutual funds and real estate investment trusts to acquire real estate assets owned

"If the housing sector is granted infrastructure status, it could benefit from greater access to long-term finance," it said.

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