Punjab to give industry status to real estate sector in new policy

Q: Punjab will come out with a new policy on real estate sector by mid December that would remove bottlenecks and simplify procedures besides according industry status to the sector.

Stating this here on Saturday, Punjab deputy chief minister Sukhbir Singh Badal on Saturday asserted that the new real estate policy would help declare the sector as an industry and grant similar benefits to it.

Speaking at a convention, "Punjab - the land of opportunities" hosted by Confederation of Real Estate Developers Association of India (CREDAI) here, Badal tried to hardsell Punjab's real estate potential to investors.

He asked over 100 real estate developers from the country and abroad at the conclave to invest in Punjab, which was all set to simplify procedures and make their investment attractive by removing all bottlenecks and making the real estate policy incentive-based.

Presenting Punjab as 'Land of Opportunities', Badal said the state defied global recession by clocking more than 20