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
Views about GST
Bringing in GST (Goods and services tax) is going to be a positive development for the Real estate sector. GST shall bring a multi-edged positive impact on the Realty sector bringing in more transparency, abolishing multiple taxation system, making the system more systematic and streamlined.
In the current scenario, the potential impact of the GST on the Real estate sector shall be better for the economy and for the real estate in particular as it will bring in more transparency and the things shall become crystal clear as instead of many agencies there would be a single nodal agency which can make the whole process streamlined and properly methodical attracting more FDI.
Message to the industry
The main message to the industry is to be sincere and hardworking from your side in your efforts so as to successfully complete and deliver the projects on time and bring in more transparency. This shall win the trust of the buyers and investors alike and by virtue of this, the demand shall increase manifold bringing back the Real estate on the right track of growth, development and prosperity.
Also the various stakeholders should go for Affordable housing projects which is the need of the hour for the masses and in consonance with the government’s mission of ‘Housing for All by 2022’, inculcating demand manifold and making Real estate sector prosperous in the process.
NAREDCO’s 14th National Convention
NAREDCO holds annual conventions to discuss the various issues of Real estate sector and in this series, the 14th National Convention of NAREDCO on ‘Indian Real Estate and unfolding the new era of growth’ will be held on 28th and 29th of August 2017 in New Delhi where Union Ministers, Government dignitaries, around 500 developers from all over India, various stakeholders and international delegates shall participate to discuss the above matters for the growth and development of Real estate sector, economy and our nation.