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
An estimated 1.1 trillion dollar investment is required for constructing around 4crore houses in rural areas and 2crore houses in urban areas. The Affordable housing mission provides a massive opportunity for employment generation, GDP growth, economic growth and development of the nation. It is a win-win situation for everyone.
Govt’s focus on its mission of providing ‘Housing for All by 2022’ is going to have a positive impact on the industry as the main emphasis now is to provide Affordable Housing which is going to increase the demand emphatically and in turn the supply of Housing and supporting infrastructure also. This way the Real estate industry shall be on its way to prosperity.