Policy Back-Up For Housing Sector Urged

Addressing a seminar on housing and real estate development, organised by the Associated Chambers of Commerce in New Delhi, Ramakrishna said it was laid down in all the plans what needed to be done, but who would do it, how and in how much time was not specified.

Assocham alternate president H L Somany told the seminar that the construction industry needed to be brought under the Modvat to reduce the tax burden and make housing affordable to the poorer section.

It is essential to implement policies that have been formulated in the National Report for Habitat 2, held at Istanbul in 1996, Somany added DLF Universal managing director K P Singh emphasised the need for a multi-agency approach or a public-private partnership to develop real estate.

 

The private sector is fully aware of the social commitments like providing on-site infrastructure services in the area developed, he added.

The overriding need of the housing sector was to bridge the gap between demand and supply, he said. To provide adequate shelter to each household, according to estimates, 140 million units need to be added over the next 25 years.

Singh also advocated the formation of a national body with professional builders to bring about self regulation in real estate.