No transparency in real estate business

Hyderabad, Jan 13 (UNI) Indu Projects Limited Manging Director and CEO Shyam Prasad Reddy today said the Real Estate industry was ailing due to lack of transparency, acute shortage of data, academic research, lack of uniform laws and regulatory systems.

Particiapting at a conference on 'Real Estate in India, the Research Imperative' here, Mr Reddy said there was big business for real estate players with organised retail mushrooming in the country.

A knowledge base and authentic data from a premier institute like the ISB, would help to streamline the realtor and also the retail industry, he added.

Mayfair Housing CEO Nayan Shah stressed the need to develop competitive strategies, which would give a developer the edge. He emphasised on the need for a deepening debt market.

Partner and National Director RHC India, Ernst and Young Private Limited Ganesh Raj said this was the country's first research initiative.

He introduced two topics of discussions on Land Management in the RE Industry-Assembly, Acquisition and Purchase, and RE Financial modelling, Technique and Data Sources.

The conference is being jointly organised by The Indian School of Business (ISB) and Ernst and Young Private Limited, India, a release here said.

UNI