SBI Chairman Rajnish Kumar advised to revive the real estate industry from Corona

State Bank of India (SBI) Chairman Rajneesh Kumar said that real estate companies should focus on selling finished houses quickly and keeping their loan instalments on time instead of holding them in the hope of higher profits.

Addressing a video conference of NAREDCO, a group of real estate companies, he said that if real estate companies want to stay in the market and return to normal business as soon as possible, then they need to focus on a few things is. They need to focus on selling finished houses quickly, avoiding default in payment of bank instalments and changing the general perception of the real estate sector.

He said, "As soon as possible, sell ready-made housing units. We were feeling that prices would go up, but this is not happening in an unfortunate way. There was a time when there were buyers in the market who were buying homes for the first time. There were also investors in the market then and you had the possibility of doubling your investment in five years. Now that time has passed. "

The SBI chairman said that now the real estate industry should focus on reducing costs and reducing construction time. He said, "See how we can reduce the time taken to manufacture? How can we keep costs down in terms of construction materials? "

In the case of banking, he assured that according to macroeconomic conditions, the rate of interest will be kept to a minimum. ”He said that everyone should try to make housing affordable, construction faster. And they are being sold quickly rather than being held in anticipation of price increases.