Real Estate’s Crucial Role in the Revival of Economy: MoHUA

The COVID-19 experience has led to new requirements and greater dependence on IT which in turn will empower homebuyers and help improve trust, MoHUA secretary Durga Shanker Mishra said Stating that the real estate sector will have a crucial role to play in the revival of the economy post the pandemic, Durga Shanker Mishra, secretary, Ministry of Housing and Urban Affairs (MoHUA), has said that the government is keen on infrastructure investment as it will help revive the economy. “The real estate sector will have a crucial role to play in the revival of the economy post the pandemic; be it in terms of employment generation; contribution in the GDP or the direct multi-sectoral link,” he said addressing a special session of the FICCI 14th Annual FICCI Real Estate Summit. He also said that the pandemic has thrown up a new set of requirements and that lessons need to be learnt and new strategies thought of post COVID-19. “We need to think more. With the online system in place you (real estate developers) will be empowering homebuyers and once you do that trust will improve”.