In a Conclave of Real Estate Developers, Banks, Architects, Government representatives the question of Challenges faced by the Indian Realty sector was discussed. So what do you think is the hurdle in executing the projects timely ? Developers opine that delayed approvals and cumbersome processes are the core issues facing the sector [and not to forget the corruption] - regulatory bodies have barely cleared any applications in the last 9-months in Mumbai. This is in line with the developer concerns in other cities.
Funding for Real Estate:Funding for under construction projects is relatively tough. However, loans against lease rentals are available at relatively lower rates. Overall while funding is tight, developers opine that high interest cost is the real challenge.
Premium housing is seeing a slowdown but mid-income/value housing volumes are robust. However, developers suggest that softening of prices is unlikely given the latent demand.
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