Mr T Chitty Babu, Chairman and CEO, Akshaya

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Mr. T Chitty Babu, Chairman and CEO, Akshaya Pvt Ltd

“We welcome the government’s move to provide few incentives to the real estate sector in its last term and address the issues plaguing the real estate developers. We urge the government to address the NBFC liquidity crisis as NBFCs haven’t been able to provide finance for construction costs; stalling many under-construction residential projects across India. The government needs to incentivise real-estate developers by lowering tax burden as well as relaxing few more norms. Investor-friendly steps and steps to improve the infrastructure of the cities will open newer avenues for the developers and provide a stability to the sector in the long-term. Also, implantation of single window clearance system and faster approvals can help the real estate developers to tap into segments like Affordable Housing and ramp up the growth, thereby enhancing the overall buyer sentiments”.

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