Real estate regulation bill must be approved soon

Interview with Santosh Singh, Chairman and MD of DHL Infrabulls International Pvt Ltd:

‘The bill will bringing transparency in the sector. Recession can be checked by bringing projects in potential areas’

Indore: The new government at the Centre must focus on passing the Real Estate Regulation and Development Bill 2013. It will bring transparency and will help in improving the credit of players of the sector. However, in order to avoid long government process of approving a real estate project, a single window system must also be introduced.
Usually builder fraternity is seen against brining the Bill. But the demand is raised from the one of leading real estate player and chairman cum managing director of DHL Infrabulls International Pvt Ltd Santosh Singh.

Talking to this correspondent Singh said “It’s my firm belief that if this Bill is passed by the parliament, then it will improve the credibility of genuine players and will have trust among buyers and investors.” Singh partially agreed with the recession in the real estate sector. He said, “People’s earning is continued and it should also be accepted that it is increasing too. Then why they will not come forward to make investment. We need to provide them a reliable and suitable investment option. The real estate players must judge the opportunity and potential of their projects before making investment and rolling it out.”

There is no economic recession, perhaps it’s a fear, Singh said replying to question on recession in the real estate sector. Talking about the hurdles and solutions of the real estate sector, the CMD of ISO 9001:2000, ISO 14001:2004 company said, “In the present procedure, a real estate player has to take over 24 approvals from different departments. This practice consumes much of the time and also increases in the cost of projects”. Suggesting solution of the hurdles Singh said since it is a state government matter, it should bring a single window and time bound approval system.

Young and dynamic leader of leading real estate company Singh said that people must understand the importance of investment in the real estate. It should be made a first option. After 10 years, it gives very attractive returns, he added. Singh is hopeful of very good future for real estate sector in Indore and its adjoining areas.

Reckoning the plus points of Indore, he said that it is the emerging city of second tire cities of India and most importantly Central government’s ambitious Delhi-Mumbai Industrial Corridor (DMIC) project is passing through Pithampur.

First generation business deliberately ventures into the business, leasing a side future in government job and working in a company. In order to achieve the dream to become a businessman, he left BTech (mechanical) halfway. A native of Allahabad, Singh came to Indore in 2008, attracted by its future prospects.

“Off course DMIC was a major attraction,” he said. Singh incorporated DHL Infrabulls International Pvt Ltd along with two other barterers. The first project of the company Gold City started at Pithampur at 14 acre land in the form an integrated township. At present 22 projects are in progress over 500 acres of land in four cities – Bhopal, Nagpur, Indore and Pithampur. Out of 22 projects, six have been completed and 18 are under development.

Due to Singh’s dedication, the company has won six national and international awards so far. He has diversified his business and ventured into IT industry by staring DHL Bharat Worldwide Technologies Ltd. Shortly the DHL group is going to enter in the business of tour and travels.

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