Bengaluru, December 13, 2015: Mr. Ankur Jindal, Coo- Sales, Svp Group, while commenting on the Real Estate Regulator Bill said that “It is a great initiative to keep a significant portion of sale proceeds in escrow as that would ensure timely execution of projects and hold temptations of developers to use customer funds for alternate investments. It would also promote fair play in real estate and encourage investments in the sector. Investments in the sector would drive growth to a sector which is straddled with huge developer debts and high cost of capital. The single-window clearance is the major feature that will help in cutting down approvals, which runs into 20-30s, and finally may see developers delivering projects on time. Grading of developers would also help in instilling healthy competition and would give customer a transparent mechanism to evaluate an investment,”
Corporate Comm India(CCI Newswire)
