Realtors were given confidence on Tuesday by Union Commerce and Industry Minister Piyush Goyal that he will bring up the matter of the Reserve Bank of India providing easy financing to the real estate industry, just like he would other businesses.
The minister further promised that if the builders promised to conduct business in an open and corrupt-free way, he would speak with state governments and urban local bodies to expedite the approval process for real estate projects.
It is evident that the real estate industry is performing admirably and making a significant contribution to the GDP, taxes, job creation, and building the nation’s necessities.
“You will appreciate that a lot of the disciplines that were brought in were good for honest and sincere developers,” he remarked, referring to the introduction of RERA.
“The regime we have now is far more honest. And happily, financiers are becoming more confident in funding the industry now that many of the dishonest developers have left the system.”
In response to CREDAI President Boman Irani’s concern that real estate financing is not available to other industries, Goyal said he would raise the matter with the RBI.
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