By Rohit Sharma
Real Estate sector is a major contributor towards the Indian economy and its rapid growth may contribute more towards the nation. ‘House for all by 2022’ is a major boost to the sector, this lead to an increase in demand and supply. In an exclusive interview with Shantilal Kataria, President, CREDAI – Maharashtra revealed the reasons for the growth in the realty sector and projected outlook of 2019.
1) How do you foresee the real estate market in 2019?
Ans:- The year 2018 has been a mixed basket for the real estate sector. With enhanced homebuyers’ confidence, We expected an increasing growth for Indian realty in 2019. The sector registered an increase in housing sales by 16% this year, and there are encouraging signs that this momentum will continue into 2019 as well.”A boom is expected in 2020.
2) Do you think RERA is a game changer?
Ans:- Yes, RERA is a game changer. In true sense, grahak has become Raja. It’s difficult for small developers, unorganized developers to survive.
3) Too much dependency on NBFC will kill real estate?
Ans:- Developers will have a shortage of funds to purchase large lands. Will find difficulty in maintaining the speed of construction. Major transformations happened in the real estate industry in the last 2 years, which have created a more transparent business environment, strengthening market sentiments.