- January 19, 2017
- Posted by: amdaindia
- Category: Urban News
Union Urban Development Minister Venkaiah Naidu recently dismissed fears of demonetisation causing a massive slowdown in the real estate sector. He said that a boom in the housing sector was imminent, with the government committed to providing a house to every Indian by 2022.
“There will be ample opportunities in the real estate and housing sectors in the coming years,” Naidu said. “With lower interest rates and a new real estate Act, there will be a boom in the housing sector.” Speaking at the seminar on “Smart and liveable cities: Opportunities and challenges”, Naidu said that urbanisation was a challenge but PM Modi was trying to convert it into an opportunity.
Naidu added that demonetisation has heralded an era of transparency and revolutionised the way business is conducted in the country. “People ask where black money is if all of it has come back into banks. But not all that is deposited is white. All the notes deposited now have an address,” he said.
“It is Moody’s rating and not Modi’s rating which says that India is the only bright spot on the globe today for investment. The government is moving in step with MODI — which is not Narendra Modi but spells out to Mission of Developing India,” Naidu said.
Source : Urbanewsdigest