Public sector responsibilities: mobilizing resources for gre

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The tasks in which the public agencies are now engaged in are totally different. In earlier times, the public sector had a vice like grip on all sectors of the economy. All that has changed now. In a majority of the cases, the public sector is now present mainly as a facilitator and a coordinator of the various development activities.

Through resource mobilization, the public sector has been able to aid the development agencies better. Compared to the huge volume of funds needed to tackle the housing problem, the resources available from the formal sector will be rather minimal. There is, therefore, a need to adopt measures to mobilize resources for the housing sector on an adequate scale and stimulate development and supply of developed land, especially to Low Income Groups and the Economically Weaker Sections.

Also there is no proper institutional framework to encourage savings to encourage investment in housing, nor is the existing system responsive to the characteristics of the housing market. The creation of a National Housing Bank by the Government will be a right step in this direction. It will certainly meet the credit needs of individuals and groups and solve their housing problems and will thus also facilitate additional resource mobilization.

When considering the developments in [url=http://www.abadbuilders.com/aboutus.asp]Real Estate Trivandrum[/url] city is lagging in several development parameters that would have accelerated the real estate developments. Mainly due to the severe resource crunch, many of the development projects started several years ago are now facing cost overruns. Thus the project cost in itself has tripled in value. What could have been accomplished at just a fraction of the cost is now languishing mainly due to the delay in making available sufficient funds to the developer who undertook the contract with the solemn assurance to complete the work on the agreed deadline.