Negative sentiment around real estate is keeping people away from investing in the sector, said Sanjaya Gupta, managing director of PNB Housing Finance, adding that the only way to get the demand back into the market is to start delivering on time.
In the 8 large metropolitan cities, the demand-supply gap has only expanded from 2.2 million units to 2.5 million units, said Gupta in an interview with CNBC-TV18.
On offers from some marquee investors, he said, “We are in the process and we will come to the media or to the press once we have firmed up the new investors." "It’s already public that we are in the fray to raise Rs 2,000 crore more of tier-I capital."
Talking about the government's fresh steps to ensure funding for the stuck real estate companies, Gupta said, “We are happy that over the weekend the government has made an announcement of last-mile funding and they are putting Rs 10,000 crore forward and I am sure that some marquee domestic funds or sovereign funds will come forth and make it healthier."
According to him, credit flow on supply side is a must-have now.