Ravi Teja Sharma, ET Bureau | August 19, 2016 23:39 IST
The government is willing to provide more incentives for the well-being of the real estate and construction sectors but it must become more proactive and sensitive towards constructing low-cost housing with high quality for intended beneficiaries, said Ravi Shankar Prasad, minister of Law & Justice, Electronics & Information Technology.
These additional incentives, he said, will help the government and real estate developers provide homes to all by 2022.
Prasad said that the government wanted builders to have a definitive agenda for the development of their projects which would restore their credibility as well as bridge the ongoing trust deficit that home buyers have.
“90 per cent of the developers and builders have good track record but there are few that needed to become more responsible and accountable as with this the credibility factor would further cement and the trust of consumers in their projects is restored,” he said.
14 Dec 2005, BANGALORE, India --- Traffic moves along a road in the southern Indian city of Bangalore December 14, 2005. Bangalore, long known as India's Garden City and now a global technology hub, is set to change its name to Bengalooru, reverting to a centuries-old title that means "the town of boiled beans". REUTERS/Jagadeesh Nv --- Image by © JAGADEESH NV/Reuters/Corbis
