Real Estate Sector Is Likely To Get Industry Status

According to Anil Kumar Sharma, Chairman and Managing Director, "The industry status for the sector is an urgent need. Construction business is the second largest employer in the nation after agriculture. It accounts for over 5 per cent of GDP growth. Moreover, the sector also supports other industries including steel and cement. Yet it has not been accorded industry status. Industry status for the sector will improve funding and bring more transparency,” reports Mail Today.

"Lack of industry status has deprived the sector of benefits including lower interest rates on loans,” said Anuj Puri, Chairman and Country Head of Jones Lang Lasalle.  

"Providing Industry status along with a regulator will bring transparency in the sector, which is marred by link to one corruption case after another. Also it will help in stabilizing home prices," added Geetamber Anand, Officiating President of CREDAI.

Also Read: Festive Season in and so is the Demand for Realty