DLF yet to feel the slowdown

NEW DELHI: India’s biggest real-estate firm by market capitalisation, DLF Ltd, is yet to feel the impact of the ongoing real estate slowdown and is confident it would be over before long.

Kushal Pal Singh, real estate veteran and chairman of DLF, told DNA Money he expects demand to pick up in “two months’ time.”

“As inflation comes down, hopefully in the next two months time, I guess the monetary policy will modify to enable more flow of money to developers at reduced interest costs,” Singh said. “I do hope it happens, it is vital for increasing supplies.”

He said RBI’s growth forecast of 8-8.5% spelt more requirement for urban housing.
“I am bullish on the growth story… if temporarily something has gone down somewhere, it will bounce back,” Singh said.

The company sees demand for urban housing growing in tune with economic growth.
Meanwhile, Singh said, slum redevelopment and rehabilitation is a “very important aspect” for growth and should be given the right focus.

According to him, private players should play a bigger role in slum redevelopment projects in Delhi. “Government should encourage and facilitate the private sector to develop slums, and not hinder their development.”

Scarcity of land and booming real estate prices in Mumbai and Delhi have made the prospect of redevelopment of slums a lucrative proposition for developers.

vivek_s@dnaindia.net