September 2017 \ Cover Story \ COVER STORY: BUSINESS PROFILE AND INTERVIEW
GUIDING REAL ESTATE SECTOR IN TOUGH TIMES

Motivational speaker Robert Schuller famously said, “Tough times don’t last, tough people do.” His words sit well on the broad shoulders of Mr Praveen Jain, President of NAREDCO. Over the years, Mr Jain has been witness to many tough times through which India’s largely unregulated real estate sector has sailed. But he has survived those times. Even though not everybody in the sector is trying to make a quick buck, there are a few black sheep that have today brought the industry down on its knees. As President of NAREDCO, he is in a position of power and influence to guide the industry in what can be considered real estate’s toughest phase yet. With numerous projects delayed for years, there is hardly any acchee din in sight for buyers and investors. Several builders are bombarded with a slew of cases in courts, police stations and tribunals. It is a testing time for Mr Jain. He’s navigated in choppy waters earlier, and knows that the present crisis is actually an opportunity in disguis

By Yogesh Sood

Mr Jain’s views about current scenario of the Real estate industry

Presently we are living in an era when Real estate Renaissance is taking place. As the crucial reforms are being brought in, majorly with the mission of ‘Housing for All by 2022’, ‘Smart Cities’, RERA ( Real estate Regulation act) and GST ( Goods and services tax), Real estate sector is expecting to come out of the doldrums and advance forward on the right track with a positive attitude. The bright future is beckoning the Real estate sector.

The current scenario of the real estate industry is that it is recovering well from the earlier slowdown with major emphasis being given on Affordable housing creating more demand and supply and in consonance with the government’s mission of providing ‘Housing for All by 2022’.

Also with RERA and GST coming into being, is bringing back the Real estate sector on the right track which have rightly taken the cause of the buyers with major emphasis on timely delivery of the projects and the system becoming more transparent.

Views about ‘Housing for All by 2022’

To accomplish the mission of ‘Housing for All by 2022’, major emphasis is being given on ‘Affordable Housing’ which can reach out to the masses, reviving the demand supply chain to a great extent and rejuvenating the Real estate sector in the process. Affordable Housing having been given the ‘Infrastructure status’ is a huge positive step in this direction.




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