Maharashtra accounts for nearly 25 per cent of the total investments attracted by real estate and construction industry in India, showed a recent study by industry body Assocham. According to the study, there are about 3,489 projects worth Rs 14.5 lakh crore in the construction and real estate sectors that are currently on going in the country. “While Maharashtra alone accounts for a lion’s share of about 25 per cent in total investments attracted in the two sectors as of December 2016, Uttar Pradesh and Gujarat, each account for 13 per cent,” the study noted. Karnataka’s share is 10 per cent, while Haryana accounts for nine per cent, it said. “The Centre and state governments must introduce a single-window clearance system at the earliest to avoid time and cost overruns that are impacting the growth and development of real estate sector in India,” Assocham national secretary general D S Rawat said. He said the government should also grant industry status to the real estate sector to counter the apathy of banks in financing realty projects. “As for the sector, the companies in the real estate space must keep looking for long-term financial resources to become independent,” he added. “So far as the investment growth trend in this sector is concerned, the sector touched highest rate of 13.5 per cent in 2010 but recorded sharp downfall till 2013 whereby it recorded negative growth of about eight per cent but it picked up in 2014 to reach about three per cent and again fell in 2015,” the study stated.
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