Ease building norms: Areida

The Assam Real Estate and Infrastructure Developers' Association (Areida) on Sunday urged Dispur to notify new building bylaws before the global investors' summit in order to attract investments in real estate.

By SUMIR KARMAKAR in Guwahati
  • Published 29.01.18
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An aerial view of Guwahati

Guwahati: The Assam Real Estate and Infrastructure Developers' Association (Areida) on Sunday urged Dispur to notify new building bylaws before the global investors' summit in order to attract investments in real estate.

The association, which has nearly 100 construction companies as its members, said Assam has the potential for investment to the tune of Rs 1.5 lakh crore in real estate but the regulatory framework must be competitive and provide an "advantage" to investors.

"The real estate sector has a huge potential for investment in housing, commercial complex, malls, office space, warehousing and cold storage, convention centres, parking complexes, support infrastructure for tourism like hotels and resorts and educational and sports infrastructure, besides others. When we are promoting Assam as the gateway to Southeast Asia, we need to draw inspiration from modern cities like Singapore, Shanghai and Hong Kong. However, the government must realise the regulatory framework must be competitive and provide an advantage to the investor and not be a empty slogan. The long-pending building bylaws should be notified without any further delay," Areida president P.K. Sharma said.

The association, however, welcomed the summit organised by the state government with an eye to transform Assam into a hub of business for capturing markets in Southeast Asia.

"Prosperity of states across the world depends singularly on economic activity. Investment in various enterprises generates revenue for the government to spend on development work and welfare activities, creates jobs and brings economic prosperity. The people of Assam must create a congenial atmosphere for economic growth so that investors are attracted to the state," he said.

Sharma said the association would take part in the summit and showcase the potential in Assam's real estate sector before investors.