The country’s banking sector needs to change its outlook to improve sentiment in the real estate sector, DLF CEO and Chairman of National Real Estate Development Council (Naredco) Rajeev Talwar said on Wednesday.
“There are multiple issues that the sector faces today. The banking sector needs to become more liberal and change its outlook towards real estate sector,” Talwar told reporters here.
In order to chalk out strategies for the housing sector and address the challenges, NAREDCO will host a convention in the Capital on August 19 and 20. This will be the realty body’s effort to continue the interface with government to address issues, including the use of technology in housing, among others.
Floor area ratio “If the increasing population has to be absorbed in cities, density norms need to be looked at and Floor Area Ratio (FAR) needs to be changed. Many global cities have much higher FAR compared to Indian cities,” Talwar said.
On improving the sentiment in the sector which is witnessing delay in home delivery, Gaurav Jain, General Council Member of Naredco, said, “No builder wants to delay delivery. This is a business which is future proof since a house is a physical asset. This is not like new online businesses wiping out traditional businesses.”