Govt for new guidelines to revive realty sector

The Union government is set to announce new guidelines and regulatory initiatives to help the real estate sector in dealing with the current crisis triggered by the Covid-19 outbreak.Housing and Urban Affairs Secretary Durga Shanker Mishra said that with the construction work on projects suspended because of the nationwide lockdown, builders have called for help to the laborers working on their sites. He has held a series of discussions with 2,600 leading real estate developers through video conferencing. These developers are part of realtors' body Naredco. Issues related to the sector were discussed and measures being taken to address the concerns. The government in consultation with stakeholders is taking measures that would help in reviving the economy by initiating unprecedented measures to lift the entire sector out of the current slumber, he said.