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Wants to regulate realty sector without hampering development: H-RERA, chairman

Haryana Real Estate Regulatory Authority (RERA), Gurugram Chairman K K Khandelwal on Tuesday said its prime objective is to regulate the realty sector without hampering development and asked builders to comply with orders passed by the regulator. Khandelwal noted that the authority has given ample amount of time to builders to comply with orders and has so far not taken any harsh decisions.


NAREDCO Chairman Parveen Jain praised the state government for supporting the real estate sector but said that some new initiatives are needed for further growth.


According to council's Vice Chairman Niranjan Hiranandani, if the contribution of real estate sector to national GDP has to reach 15 per cent by 2030, the real estate sector would have to grow at the rate of 25 per cent each year in order for India to be able to create 5 trillion dollar economy by 2030.

NAREDCO President Rajan Bandelkar said some more reforms are critical for real estate sector.

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