With RERA and GST, realty sector showing signs of revival: VP Naidu

Prime News, National, Business, New Delhi, February 14:- Vice President Venkaiah Naidu has said, a transparent and predictable regulatory regime is essential to strengthen the real estate market.

Addressing the 3rd YouthCon of the CREDAI ( Confederation of Real Estate Developers Association of India) and young entrepreneurs in the real estate sector, in the city today, the Vice President said, with measures like RERA (Real Estate Regulatory Authority) and GST (Goods and Services Tax) the realty sector is showing signs of revival.

He said, the sector is an important part of the economy and cannot be allowed to fail.

Saying that the sector contributes 7.9 per cent to the gross domestic product (GDP) of the country, the Vice President said, is the second largest job provider in the economy after agriculture, the entire country has stakes in the real estate sector.

He asked the young entrepreneurs in the real estate to provide technological solutions to remove the unlawful practice of manual scavenging, manual sewer cleaning. He said these practices are a blot and disgrace to any civilised society and must be removed immediately. (Inputs: Agencies, NGB)

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