SME Times News Bureau | 15 Mar, 2018
Vice
President M. Venkaiah Naidu has said that real estate developers and
builders to bring in reality in real estate sector to improve
economy.
Addressing
the gathering after inaugurating the two-day CREDAI Conclave, in New
Delhi Thursday, Naidu said that housing in our country is as basic a
need as food and clothing and the judiciary has broadly interpreted
the right to life under Article 21 of the Constitution to include the
right to shelter.
He
further said that everyone need to adapt to the transformation that
is taking place in the realty sector by combining technology,
innovation and entrepreneurship. Rapid urbanization coupled with
migration from rural areas has led to a massive housing shortage, he
added.
The
Vice President said that with a view to easing the severe housing
shortage, the Government has taken a number of measures to boost the
affordable housing segment. He further said that challenges like lack
of low cost land in urban areas and delays in clearances need to be
addressed to boost affordable housing.
Although
the measures taken by the government have given a boost to affordable
housing, there is a need for the private sector and real estate
developers to play a bigger role in promoting low cost housing, he
added.
Naidu
said
that India should not compromise its hard-earned fiscal discipline in
order to accelerate growth, adding that resorting to countercyclical
policies will not help spur sustained growth.
He
further said that real estate developers to focus on two important
things for the families of the workers—health and education. These
two should be given top priority and ensure that the workers and
their families are not denied their basic rights in any manner, he
added.