Fairval

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60% RE development unauthorised

Posted by fairval on January 29, 2010

Interesting quote from KP Singh, the man behind DLF.  (from an interview in The Economic Time)

Is the RE sector now out of the woods?

As I said earlier, there are lots of issues that need to be addressed. Currently, the sector is flooded with unauthorised players. Almost 60% of the total development in the country is unauthorised . This needs to be solved. But you can’t just demolish all those buildings in a day. Also, in the current economic scenario, there is a problem of over-supply of residential and commercial units, which will go on for the next two years.

Didnt know it was as bad as this.

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