Organised industry cannot have so many players. Let’s assume 10 major players controlling 80% business of city by value in next 20 years to make industry organised.
For immediate attention, the first step should be to drop the Clause of refund in RERA. Some cities can have innovative clauses like 30% inventory can be sold before substantial construction without cancellation clause. Remaining inventory can be sold after OC. Let few cities adopt rule of 100% sales after OC. We need five year pilot project in different cities with different rules. Let’s evaluate than after.
Let Government decide they want private industry or not in this sector. As If Government becomes competition in micro market than it can hurt the industry badly. Launch of LIG, MIG by Govt before elections, hurt the industry. Or let Govt announce the dedicated area for Private players & Govt subsidised projects.
Slum rehabilitation, let’s understand viability & let capitalism earn for few years to solve this biggest problem
State or central Govt may need to announce fund of fund to bring out some stuck projects. Or a one time settlement ordinance with full authority to the special bench.
Integrity of Govt agencies & state leadership will play big role, if we want quick results.