Technology, Skills, delivery &
credibility: key game changers for Real Estate sector’s growth – CII’s Realty
2012 Conference Jun 28, 2012
Real Estate’s development is development of the country - Sudhir Krishna, Secy, MoUD, GoI
“Real Estate
sector’s development is the development of the whole country”, said Dr Sudhir Krishna, Secretary, Ministry of Urban Development,
Government of India while addressing the industry at 8th edition of
Realty 2012, organized by Confederation of Indian Industry (CII) Northern
Region, here today.
All basic
amenities in the urban areas like Water, solid waste management, transport
system can be profit making, so Public Private Partnership (PPP) in the urban
areas should be encouraged, he further suggested.
“Historically the unorganized and fragmented real
estate sector in India is slowly evolving into an organised sector with strong
focus on technology, efficiency, skills, a strong delivery mechanism, community
development, infrastructure development and adoption of green practices” said Mr Anshuman Magazine, Chairman, Realty
2012 & CMD, CBRE South Asia Pvt. Ltd. “The companies who do not concentrate
on these factors will find it difficult to sustain in the long run”, he added.
“Technology
and efficiency would be the real game changer in this sector considering ever
changing scenario”, said Mr J C Sharma, Vice Chairman &
Managing Director, Sobha Developers Ltd.
“It is disheartening that real estate sector which
is linked with 300 industries directly or indirectly, provides employment to 50
million people and contributes 17 % to India’s GDP is still to get the industry
status for itself. Hence there is a dire need to change the perception about
the Real Estate sector’s and enhance its credibility in the eyes of all
stakeholders including consumers, government, Banks, RBI and the regulatory
bodies. And this would happen if and only if we deliver what we promise”, said Mr Sachin Sandhir, Managing Director, South Asia, RICS.
“Inspite of the Regulations that exist in the
sector, we have to dedicatedly take the sector to the next level. Some of the
challenges like unavailability of land, acute shortage of labour, high cost of
capital and unstable government policies and regulations need immediate
attention” opined Mr Munesh Khanna, Senior
Partner, Grant Thornton Advisory Private Limited.
Mr Chittaranjan Kumar
Khetan, Joint
Secretary, Ministry of Urban Development, Government of India highlighted the
issues faced by the customers and shared the set of approvals and permissions
that the Real Estate Developers have to pass through. He further shared that
the Draft Real Estate (Regulation & Development) Bill 2011 would not only
safeguard the interests of the consumers to a large extent but would also be a
balanced in nature. The bill is almost ready and just needs to be put in the
parliament for approval.
Mr Rohit Modi, Former
Deputy Managing Director, Gammon India Limited said that “we need to
see things from bigger perspective where in all stakeholders, viz urban local
bodies, real estate companies, government, banks etc work in coordination for
over all implementation of infrastructure development programmes and make all
necessary facilities and amenities available to the consumers at best prices
and also to safeguard their interests for enhancing the perception of the fast
growing sector which has immense potential to grow with FDI in multi brand
retail also to be allowed in coming future. Source: cii.in
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