With the real estate sector facing huge slowdown, Union Minister Nitin Gadkari has asked builders to reduce construction cost and avail dollar loans to cut their interest expenses and revive demand. He was addressing a conference organised by industry body NAREDCO. To provide affordable housing, the minister emphasised on reducing interest rates and cost of construction by using pre-cast technology and use of waste material.
The minister asked the builders to diversify to other sectors and enter into road development as the pre-qualification norm has been eased as more contractors are needed to build roads. Gadkari said he intends to develop 10 townships along Delhi-Jaipur Expressway and asked builders to participate in this program.