Indian
Developers / builders / promoters have
formed an in-house committee to take stock of the demand and supply scenario in
real estate.
The
CREDAI (Confederation of Real Estate Developers' Associations of India) formed
the panel under the chairmanship of Mr.
Sandeep Mehta, head of the developer body’s southern chapter, which in the next
3 months will come out with a procedure on how to get the correct numbers for
the unsold residential stock in India.
Mr.
Lalit Kumar Jain, CREDAI, President said, “Since there is no official
benchmark or / methodology to ascertain the real demand & supply situation
in the Indian real estate market, we felt that it was better that developers
themselves formulate a mechanism rather than relying on third-party data"
The
committee comprises developers from metro, Tier-1 & Tier-2 cities in India.
Mr.
Lalit Kumar Jain also said, “We are hopeful that within a year we should
come out with reliable data on the actual demand & supply situation in the
residential real estate segment in India .The committee would use the online
medium for a study, the contours of which are being finalised".
Last
month, the central government had said that there are 5 lakh units (Flats) lying
unsold in the country.
Developers
and builders disagreed with the number, calling it 'inflated'.
The
secretary for financial services Mr. D. K. Mittal then asked the real estate
industry to conduct a survey of unsold housing stock in cities in batches so
that the banks have a clear idea of how much funds are required in the
residential real estate segment & what will be the future demand for
capital by this segment.
Mr.
D. K. Mittal said Indian banks to fund partially completed residential projects
in the country on a priority basis & to focus on funding under construction
projects that are delayed due to want of funds.
Src:
FE
No comments:
Post a Comment