Information asymmetries and laxity in disclosure norms need to be addressed for real estate sector in India to achieve its optimum potential in terms of development and investments, says Jones Lang LaSalle India, a leading international property consultancy firm.
In its report 'Emerging Investment Hotspots - Mining Opportunities From the Complex Real Estate Terrain of India' at the CII Real Estate Conclave 2013 recently, JLL India representatives also said, ‘While the real estate sector is moving ahead slowly and steadily, inaction and policy paralysis has so hampered full-fledged growth.’
Jones Lang LaSalle India, as Knowledge Partner for the Conclave, designed the report to dovetail with the event's theme - Embracing the Complexity of Indian Real Estate: Adopting a Pragmatic Approach for 2013 and Beyond.
Anuj Puri, Chairman & Country Head, Jones Lang LaSalle India said, "India has its own unique and integral complexities, and doing business here is no exception to this fact. Corporations strive for increased efficiency and productivity amidst these complexities - and real estate is an integral ingredient in the formation and growth of all businesses. On the flip-side of the real estate sector’s inherent uncertainties are the opportunities created by them in the real estate sector. Investors stand to capitalize significantly from these opportunities. However, in such an environment of uncertainty, returns through capital appreciation and security of the invested capital are obviously prime concerns. The pertinent question of where to invest needs to be answered."
Lauding the recent passing of Real Estate Regulatory Bill as an important move by the Government to address the concerns of real estate sector, the JLL report said, ‘The Land Acquisition and Rehabilitation and Resettlement Bill, which are yet to be approved, will be another step aimed at regulating the real estate sector. However, information asymmetries and laxity in disclosure norms need to be addressed for this sector to achieve its optimum potential in terms of development and investments. While the real estate sector is moving ahead slowly and steadily, inaction and policy paralysis has so hampered full-fledged growth.’
“At a juncture like this, there is need for a focused push in the right direction for the real estate industry to remain buoyant going forward,” said Anuj Puri, adding, “It is essential for all stakeholders to equip themselves with a deeper understanding - not only of the real estate sector, but also of the businesses they serve. The key for businesses to thrive in the future will be their ability to decipher this complexity and adopt a pragmatic approach. This especially applies to the real estate sector.”
Addressing the inherent need of the current state of affairs, this report is an initiative to provide well-rounded perspectives of the Indian real estate industry, focusing on factors that can potentially turn India into a global real estate powerhouse faster than expected.
The Talking Brick (TTB) is an effort to get the true picture of the projects and their most current standings – from the actual project site – to all the investors and stakeholders - regardless of where they are physically located in the world
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