Half of Kerala Developers will Disappear Soon: Anuj Puri

KOCHI:
In the prevailing conditions, half of the real estate Developers in Kerala will disappear in couple of years time, proclaimed Anuj Puri, Chairman, ANAROCK Group, prominent service providers to the industry.

The small players in the industry will not be able to sustain and almost eighty percent of the builders in the country will vanish from the scene, he expressed concern while talking to media during the State Conference of CREDAI Kerala. About 2,20,000 units of building being constructed across the country, which is hardly one unit per builder. The quality of construction and trusted builders will be able to sustain in the future.

The real estate sector in the State lacks proper marketing and promotion. Cost and non availability of land, excessive levies are the major challenges faced by the industry. The consumers are forced to rent out houses than buying, due to the diverse taxation. Consumers are burdened with excessive rate of interest when they buy a house on loan, whereas staying in a rented house will cost less for them, he pointed out.