Assocham announces national conclave on threat before real estate sector

Businesswire India
Posted: Friday, Jan 09, 2009 at 1247 hrs IST
Updated: Friday, Jan 09, 2009 at 1247 hrs IST

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New Delhi: The ASSOCHAM is organizing a day long conference on “Threat Before Real Estate Sector : - What are Solutions?” on January 14, 2009 at 09:30 a.m. at ASSOCHAM House, 47- Prithviraj Road, New Delhi to discuss and set the Agenda for the Government on revival of Real Estate Sector, in which S. S. Kohli, CMD, India Infrastructure Finance Company Limited will be the chief guest.

Besides President ASSOCHAM Mr. Sajjan Jindal, the other speakers include Mr. Rajeev Talwar, Chairman, ASSOCHAM Real Estate Committee & Group Executive Director, DLF Limited, Shri Harish Chandra, Adviser (HUD & SP-KER/MP/WB), Planning Commission, Dr. P. S. Rana, Ex - CMD, HUDCO, and Shri Navin M. Raheja, Managing Director, Raheja Developers Pvt. Ltd.

The inaugural address will be delivered by Shri Ajay Maken, Hon’ble Minister of State, Ministry of Urban Development. Shri Rohtas Goel, CMD, Omaxe Limited, Manish Periwal, Co – Chairman, ASSOCHAM Urban Affairs Committee & CMD, Pioneer Urban Land & Infrastructure Ltd., Shri Pankaj Renjhen, Managing Director – North India, Jones Lang LaSalle Meghraj will also make their observation and suggestions to how affordable housing can be possible for one and all, specially when real estate and construction are among the stressed sectors and are the worst victim of current melt down.

The importance of the Real Estate sector, as an engine of the nation’s growth, can be gauged from the fact that it is the second largest employer next only to agriculture and its size is close to US $ 12 billion and grows at about 30% per annum. Five per cent of the country’s GDP is contributed by the housing sector. The Real Estate Industry has significant linkages with several other sectors of the economy and over 250 associated industries.

However, the ongoing economic slowdown is haunting the real estate market and the sector has been hit badly. The asset situations across the world raise the question as to whether there should be any further investment in the Indian real estate. Is it the best times for private equity investment as India will see more realistic valuations? Are realty players ready for a change of strategy? What are expectations from the Government and what are remedies for revival of future of reality sector?

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