On Friday, at the Global Investment Summit 2018, Gurugram the Union Minister of State in the Ministry of Housing and Urban Affairs, Hardeep Singh Puri said that ‘Advisory Committees’ have been set up by the government in the southern, eastern and western region to fix the existing issues of real estate.
The committees will counsel with homebuyers and builders and look to solve problems for the same so that the deliveries of affordable houses are not postponed further and developers are also ready to deal with their beaurocratic problems.
The assigned work of the committees will begin in June 2018.
The government was advised by Mr Rajeev Talwar, chairman NAREDCO (National Real Estate Development Council) to take care of those real estate builders and developers whose land parcels have been mortgaged by different states in pretext as it would postpone the venture’s completion date and put a stop to the country’s real estate development.
The minister put the blame on some selected real estate developers who have defamed this sector noting that proper action will be taken against them as per the law. He also assured that the Union government – in counsel with the state of Haryana and UP, would be able to fix and solve the problems of NCR developers and builders.
Hardeep Singh Puri also said that the members of the Advisory Committee will also address the issues of builders related to RERA.
The real industry of India has witnessed a tremendous growth in a short span of time. The specialists ascribe this growth to the rise in demand and correctly so. Rising levels of income and soaring demand in the residential sector has surely given a lift to this industry. Urban areas have been largely benefited by this rise. A name that deserves a special mention here is Noida.
Noida is one of the biggest industrial towns of India, and has witnessed a rise as far as Indian real estate is concerned. Its relative closeness with Delhi has been beneficial for this rise. Excellent connectivity be it by rail or road, uninterrupted power backup and different other factors have stimulated gigantic migration to Noida.
On account of the previously mentioned factors, Noida is hailed as a town with a several economic zones. These economic zones are most appropriate for development of shopping centers, industrial units and extravagant residential flats. The town has seen fast expansion in business outsourcing industry and administration industry. Therefore, the real estate costs will undoubtedly go up and along these lines investing at the opportune time is a guarantee of enormous returns later on.
Another significant pattern in the Real Estate Industry in Noida is the syndication among major players. Huge residential ventures are attempted in partnership by Real Estate Companies in this manner changing rivalry into a joint venture. This has unquestionably given a major lift to the business. As of late government offered impetus to the business by permitting 100% Foreign Direct Investment in specific Real Estate Development Projects in Noida.
No denying, Real Estate Industry in Noida is developing at a quick pace. Contributing there will surely be a great decision. Thus, what are you sitting tight for! Race to your closest Real Estate Agency for more details and secure your future with sharp-witted investment.