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The Union Government will look into reducing the cost of funds for real estate developers.
The Confederation of Real Estate Developers’ Association of India’s Chairman Pradeep Jain was assured of this by D.K. Mittal, Secretary — Ministry of Finance (Banking & Insurance).
Jain had met the Finance Secretary on Wednesday.
“Mittal promised that the Government will look into the problems of the real estate developers and work toward reducing the cost of financing through the banks and financial institutions,” Jain said.
Jain said he also had an opportunity to raise the issues faced by developers across the country in terms of high cost funding and escalating cost of materials which adversely affected the cost of housing.
FOR REFORMS
Credai has written an open letter to the Prime Minister and set a 10-point agenda for solving the housing problem faced by millions across the country.
It has suggested comprehensive reforms in the real estate sector, covering land, administration, banking and tax.
For long, Credai has been campaigning for a single window clearance to reduce the time lost in obtaining approvals as it would speed up execution and lead to saving money and time.
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