Views of Dr Niranjan Hiranandani on RERA webinar by NAREDCO

New Delhi April 27, 2020: Dr Niranjan Hiranandani – National President – NAREDCO while commenting on the RERA webinar conducted by NAREDCO discussed an array of issues spanning during the unprecedented crisis and comeback measures to grapple the disruption after new normalcy. Taking the stock of industry scenario and discussing its wherewithal to deal with the pandemic challenges remained in concurrence with the RERA official present. He said that, “Industry appreciates the empathetic approach of RERA chiefs in understanding the grim situation and willingness to fight rightly in the mutually agreed direction. From the RERA regulatory aspects the key concern issue of extension of force majeure clause, provision of long cheap credit as working capital need to restart the projects, quick partial lifting of lockdown to permeate construction workers on site to re-function in completing pre-monsoon work were leading the platform. The RERA officials in concurrence to the industry demand of periodic reduction of ready reckoner/circle rate and stamp duty along with passing on GST cut benefits to the end users to generate consumption. These are the kick start measures imperative to start the ball rolling for the next big employment generator industry whose revival dominance is inevitable for Economic- GDP growth of the country.

He further added that, “housing being the quintessential need of human beings and shortage of houses in India can be met by the demand shocks to drive consumption economy. The pain staking issues of industry need to be addressed for contingency and backup business continuity plan for sustainability, survival which will lead to the gradual revival”.

Corporate Comm India (CCI Newswire)