August 3, 2020

Combined efforts from Builders and the Government to benefit the sector.

Rakesh Reddy, Director, Aparna Constructions, For The Hindu

The country has embraced the new normal that has redefined our way of life. But the situation with COVID-19 had brought some significant changes in the working of several businesses, including the Realty Sector. Our Director, Mr. Rakesh Reddy shares his views on how the collaborative efforts from the Builders and the Government can help the sector grow in the coming times. Here are a few interesting takeaways:

Role of the Developer:

The Real Estate Developers have always followed a traditional approach and the current situation demands transformation in their functionality. This includes embracing the digital era and making the most out of AI, Machine Learning, Data Analytics and many other emerging technologies to grow. Moreover, the developer groups should also prioritize the safety and well-being of their employees as the risk of COVID-19 has not died out completely. As this industry majorly operates with the support of remote workers, their health must be the top priority in this situation.

Role of the Government:

As the sector continues to recover, some support from the government will be significantly helpful. Some measures that were previously taken have turned out to benefit the sector, such as the liquidity scheme and the reforming of repo rates.

Further, the Government can contribute to the sector’s growth by granting infrastructure status, allowing single-window clearance to bring more transparency and through many more reforms.

To know more about how the sector can improve, read the full article by The Hindu here: