Invest Haryana

Haryana – One of the major growth pillars of the Indian economy

 

NAREDCO Haryana hosted its maiden convention on real estate and infrastructure -‘Invest Haryana: Key investment opportunities’ with an objective to understand, identify and deliberate:

  • the role that real estate and infrastructure sectors play in the economic growth and overall development of the State
  • current state of affairs of various government policies and programmes for these two sectors and their impact
  • Investment and growth opportunities across the State for domestic as well as international investors
  • strategies to remain competitive in a dynamic business environment
  • challenges which the real estate and infrastructure sectors are currently facing and Initiatives undertaken at both public and private level to overcome these challenges

 

     Inaugural Session Takeaways

  1. Haryana’s unique ecosystem is expected to propel growth in the state.
  2. State government is committed towards ease of doing business
  3. There is a need to improve institutional capacity at state level

 

Housing For All by 2022

  1. The vision to provide Housing to all by 2022 will be achieved through DDJAY, NILP and PMAY
  2. Developers must deposit pending EDC/IDC dues to the government, so that it can create required infrastructure in the state
  3. There is a need to restrict development of unauthorized colonies
  4. Rental housing in the state must be incentivized

     GMDA Legal & Regulatory Framework

  1. Appropriate infrastructure and utility services must be created
  2. Models for development of infrastructure needs to be overhauled
  3. There is a need to create local development authority, and empower it to expedite the development process

 

     Real Estate (Regulation & Development) Act

  1. Regulatory reforms are expected to re-instill confidence in the home buyers and investors
  2. RERA must be complemented with ease of doing business
  3. Rules of RERA would overarch contradictory clauses of existing contracts/agreements
  4. Real estate act to drive efficiency higher
  5. Gestation period of a project is likely to increase
  6. Cost of funds is likely to reduce

 

     PE funds and NBFCs

  1. PE Investors look for potential, intent and execution before investing in real estate in India
  2. Step-in rights of private equity (PE) funds must not get diluted
  3. Equity level investments by PE funds are expected to increase going forward
  4. Government must relook at institutional framework for lending to real estate sector

AFFORDABLE HOUSING CUM HRERA SUMMIT- 2018