Housing sales fell by about 30 per cent last year in seven major cities due to costlier flats and higher interest rate, says property consultant CBRE.
Addressing a real estate conference organised by the RICS, a global body to set standards for realty sector, Krishna said the Centre is revisiting rental law to boost housing supply.
Realty sector is facing a huge slowdown for last 3-4 years, leading to a significant delays in possession of flats to customers.
The new law would boost home buyer confidence as well as investment in the realty sector.
Another major development is REITs coming closer to reality
Real estate biggies unhappy with status quo on RBI rate cut.
Happy at the clear mandate given by voters to the BJP-led NDA, India Inc on Friday exuded confidence that Narendra Modi will initiate bold and decisive policy reforms to promote economic growth.
The real estate industry today hailed the RBI's decision to cut key interest rate, saying the move will boost housing demand and also improve sentiments in the sluggish property market.
Despite the slowdown, property investments can give them good returns over the long term
The captains of Indian industry described Narendra Modi government's maiden budget as one with "the right intent and in the right direction".
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