‘Developers need finance to buy land for affordable housing projects’

‘Developers need finance to buy land for affordable housing projects’
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New Delhi: Government should facilitate finance to acquire land for affordable housing projects by real estate developers, Confederation of Real Estate Developers’ Association in India (CREDAI) President Jaxay Shah said on Wednesday.

Addressing the press at CREDAI Conclave 2018 here, he said: “We are asking (for finance) only for affordable housing projects for a real startup, not only of the real estate but also in the allied industries.”

He also said that single window clearance for projects is another major demand for the growth of the sector.

Ramesh Nair, CEO and Country Head, JLL India said: “(Demand for) single window clearance is not to benefit the developers… It is to benefit the customer and to remove corruption from the real estate sector.”

The real estate developers’ body also demanded “rationalisation” of GST rate and different land abatement rates for metropolitan and non-metro cities.

IANS