The realty sector is expecting the new government to boost housing needs in Kochi by setting up better infrastructure and creating more job opportunities.
The Hindu caught up with the representatives of the Kochi chapter of the Confederation of Real Estate Developers’ Associations of India (CREDAI) to gauge their aspirations and concerns for the future of the real estate sector, especially focusing on Kochi.
“The government could ease certain bureaucratic procedures to give a push to the real estate sector. For instance, an NRI customer has to come down to execute the agreement and register it. People abroad may come once in a while and this affects the growth of the real estate sector. The authorities could evolve alternatives that would make the process easier and less cumbersome aimed at boosting the sector,” said J. Paul Raj, president of CREDAI Kochi.
V. Sunil Kumar, executive committee member of the organisation, wanted the new government to end the lack of equitable distribution of water and scrap unnecessary fees by government agencies to help the realty sector.
“How can an apartment having 100 flats meet its water needs with a single connection and that too through a narrow pipeline? Those residing in apartments too enjoy basic human rights and getting adequate water is their right,” he said. Mr. Kumar pointed out that government agencies should stop collecting fee for basic services being offered to the apartment owners such as that of sewerage treatment plants. K.V. Abdul Azeez, member of the executive committee of Kochi CREDAI, said the new government could focus on setting up world-class infrastructure to attract companies, which could help in generating more employment in Kochi and other key places in the State.
“Housing demand will shoot up only if we have better roads and improved connectivity. Multi-national companies will not come here unless we have the best infrastructure and allied facilities,” he said.
Stating that big ticket projects like the Kochi Metro would be a game changer for Kochi’s growth, Mr. Azeez said improved infrastructure facilities and road and air connectivity would naturally result in improving the job opportunities in Kochi. “This would enhance the growth of the realty sector,” he said.
