‘Next 18 months crucial for realty sector’

June 27th, 2008 - 11:16 pm ICT by IANS  

Mumbai, June 27 (IANS) The next 18-24 months are crucial for the Indian realty sector given the various challenges that lie ahead, said a top official of global real estate brokerage firm Jones Lang LaSalle Meghraj (JLLM) here Friday. “The major challenges that lie ahead in front of the realty sector are liquidity crunch, demand-supply mismatch, the poor stock market performance, lack of talent and infrastructure constraints,” said Anuj Puri, chairman and country head of JLLM.

He was speaking at a conference on real estate organised by the Confederation of Indian Industries (CII).

Puri added that since stock markets and real estate markets were interlinked, market performance was critical for the companies.

Talking about the infrastructure impediment, he said India’s leading cities were strained for infrastructure. With the infrastructure gap widening, it remains an important challenge, Puri said.

“There is an urgent need to focus on those challenges to move ahead with the growth story of realty sector,” he added.

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