Welcoming the passage of the real estate regulatory bill, Brick Eagle, CEO, Rajesh Krishnan said, “This bill would enhance credibility, transparency and trust worthiness of real estate sector benefiting all stake holders particularly the consumers. However, the bill seems to come across as a deterrent to the growth of small developers specifically those dedicated to affordable housing.
Players in affordable housing segment work with lower margins and are not very well capitalized. The problem of funding in this sector needs attention. Moreover, It would be more favorable for small developers to have single window clearance system. At the end of the day the onus lies on the govt to enable housing for all by 2022. We hope they streamline approval processes to promote small scale developers since no government body has been made accountable to provide time bound approvals as of now”