Efforts being taken by the Narendra Modi government to boost the real estate sector are in the ‘right direction’, a senior official of Crisil Ratings said.
“Efforts being taken by the government are in the right direction. However, it will take some time to get the desired results,” Anurag Jhanwar, director, Real Estate Ratings, Crisil told reporters here.
Pointing out that the sector was largely unorganized, he said the ease of funding is not there. Of 100 files reaching a banks, only five are approved. There are no set benchmarks or practices, he said.
“There is need for enhanced transparency in the real estate sector which can be achieved through self-regulation by developers. The good news is that we are now seeing developers coming forth and embracing this concept by opening themselves up for third party evaluation, which was a positive sign indicating dedication towards customer centricity and professionals”, he added.
“There is need for enhanced transparency in the real estate sector which can be achieved through self-regulation by developers. The good news is that we are now seeing developers coming forth and embracing this concept by opening themselves up for third party evaluation, which was a positive sign indicating dedication towards customer centricity and professionals”, he added.
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