Real estate growth depends on job security of people: Gera Developments MD

Tight monetary norms would mean funding will become harder for developers, he says

Gera Developments, a 50-year-old real estate firm that has completed 64 projects in Pune, Bangalore and Goa, will spend Rs 500 crore this year on acquiring land. “The biggest factor which might derail the entire growth momentum across all the segments in this sector (Indian real estate) is job insecurities,” said Rohit Gera, managing director of Gera Developments, in an interview with Pratigya Yadav.

Here are edited excerpts from the interview.

How many projects do you have in the pipeline this year?

We have two divisions - residential & commercial for sale and the other for lease. On the sale side, at present