Real Estate Need A Revolution To Create Dream Homes For People

There must be a real estate revolution like green and white revolutions in India to meet the increasing housing demand, said by some developers and experts. To create surplus housing across the state and particularly in the MumbaiMetropolitan Region, this kind of revolution will help.

At present, the real estate sector of India is going through tough times. Skyrocketing prices of realty, difference between the demand and aspiration being the reasons of slow growth and below average sales.

The developers as well as investors are in confusing situation due to the constant changes in housing and urban policies by the Center and the State government at policy level. If this condition continues then real estate sector will have to go through trouble times, said Sunil Mantri, president of National Real Estate Development Council (Naredco) — the developers umbrella body.

Currently real estate sector is much unorganized and need to be tapped. It has huge potential which need to be extracted, which has been ignored till now. Realty sector is a major contributor to the growth of GDP, said Mantri. Instead of promoting this sector, government is working like a commercial body by imposing additional taxes and increasing the percentage of existing levies. Thus making it more costly and people can