Committed to solve problems in real estate sector in India – Minister
Minister of State (Independent Charge) in the Ministry of Housing and Urban Affairs said that they are committed to solving all problems prevailing in the real estate sector. The minister was speaking at CII-CBRE Realty 2018 event held in New Delhi. He said that “This is the reason why a high-level committee was formed to look into the residential projects of Uttar Pradesh. Although there are few challenges which the govt is trying to overcome through policy measures, there is a lot of opportunity in the Indian real estate sector that can be utilised by private players.”
Headed by Durga Shankar Mishra, secretary, Ministry of Housing & Urban Affairs the committee comprised of representatives from NAREDCO, CREDAI, officials of Noida and Greater Noida authority and NBCC. It was formed to come up with a possible solution to complete the delayed projects in Noida and Greater Noida.
Mr Sanjay Dutt, MD & CEO, Tata Housing said that about 4-5 realty players may aim for IPO in coming years which means that there will be $4-5 billion in play. Hence, it can be a great opportunity for institutional investors and retail investors.