'No govt bailout for sinking sector'

In an interview with TOI, Sandeep Shrivastava, president, CREDAI, explains why both realtors and buyers are at the receiving end.
Q: Why is real estate sector facing slowdown?
A: Government policies do not meet the requirements of business. High taxes have been imposed by government and this is making it tough for the sector to grow. We are one of the largest industry sectors, which generate employement.But the state government has done nothing to help realty grow.
Q: What are home-buyers not showing interest?
A: Efforts should be made by the government to lower bank rates. For buying a home, common man should easily get bank loans at lower interest. Home-buyers are now burdened by hike in stamp duty.
Q: What response are realtors getting from home-buyers?
A: Real estate has become stagnant in Indore and several projects are running into losses. There hasn't been any significant growth for the sector, which remains crisis-ridden.