Najeeb Jung urges to combat red tapism in real estate industry

New Delhi, July 9 (KNN) Delhi Lt Governor Najeeb Jung has showed his concern on the red tapism in the real estate sector and stressed on the need to combat red tapism and corruption in the real estate industry.

He assured that the government is committed to work with a "great deal of integrity and honesty".

"There are difficulties with agencies as dishonesty is there in passing (building) plans. We must combat that reality. There is also a need to fight red tapism at all levels by the stakeholders," he said inaugurating PHD Chamber's conference on 'Model Building By-laws, 2016' here.

"The Government of India is committed to work with a great deal of integrity and honesty. In the current Prime Minister, we have a man who, except for commitment to the country, has no other interest," Jung said.

Terming the difficulties faced by people in buying homes as "unfortunate", he said a share of the blame also lay on developers and planners and urged them to be "sensitive" to the buyers' problems.

"Everybody needs money but I urge experts and other stakeholders to spare a thought to the people on the other side," he said citing the issue of delays in meeting delivery commitments to home buyers.

Holding developers and real estate industry as the "drivers" of India's economic success, he pointed to "mutual hand-holding" among the stakeholders to meet the challenges.

India could achieve its potential of becoming an economy of scale through a comprehensive and inclusive ecosystem for the ease of doing business, PHD Chamber's president Mahesh Gupta said in his welcome address. (KNN Bureau)