Circle rate cuts have not improved Gurgaon’s market

The state of infrastructure in Gurgaon - roads, electricity and water supply has had a major impact on the real estate sector

The state of infrastructure in Gurgaon - roads, electricity and water supply has had a major impact on the real estate sector. Slashing of circle rates have also not helped boost property sales, members of National Real Estate Development Council (Naredco) say.

(from left) Naredco members, Anil Suri, GC member; Parveen Jain, president; Rajeev Talwar, chairman; Gaurav Jain, GC member, and RR Singh, DG, unveiling the two-day convention logo.

The real estate body said that non-clarity on duties to be paid was confusing for homebuyers and hampered the overall development of Gurgaon.

“There are a number of empty houses in Gurgaon not due to any discrepancy on the builders’ front. The city is lacking basic infrastructure and that is the government’s responsibility. We, as builders and residents, have written to the chief minister of the state and other bodies so that the developmental work is done,” says Praveen Jain, president, Naredco.

The body also highlighted the issue of strict financing by banks and said they should change their outlook towards builders. Naredco has also demanded a change in the density and floor-area ratio (FAR) norms to increase housing supply.

As per a few demographic trends, with more than one crore population getting added to urban areas every year, India’s urban population is expected to touch 81 crore by 2050. Housing, a basic need for human beings, will play an important role in accelerating urban growth in India.Within urban housing, there will be more demand for affordable housing. The Central government has already realised this issue and is targeting six crore houses – two crore in urban areas and four crore in rural areas by 2022, to provide housing to all by 2022,” says Rajeev Talwar, chairman, Naredco.