Factors motivating the private sector

GenniCarol

The private sector’s involvement in the housing sector comprises of the individual homebuilders, the housing cooperatives, focused groups, the non-governmental organizations, voluntary institutions, associations, the private developers and the leading major builders. These bodies should be motivated to play their role effectively in improving the urban housing conditions by taking full advantage of the financial assistances and other facilities made available by the state government and other public sector institutions.
A national housing campaign has to be launched to sensitize and motivate the private sector to take up the initiative in making available housing units not only through their own efforts, but also by availing the home loans and other financial assistances from the government.
With respect to the developments in Real Estate Trivandrum city is witnessing a boom in apartment construction mainly due to the sincere efforts of the private builders. Perhaps at no point of time in the past has such fast paced developments taken place in the housing sector and that too within a short period of time. With each passing year, the role of the private sector is getting more prominent.
In earlier times, the leading builders always scouted for land in the prominent residential areas of the city like Jawahar Nagar and the emerging commercial hub situated in the Vellayambalam – Sasthamangalam stretch. Property values in these two areas were one of the highest in the city. Not only that, the proximity of these two areas to the prominent landmarks of the city was another attraction, not only for the leading builders but also for a large section of the people who intended to invest in real estate. Today even though this area has not lost its charm, other parts of the city are also witnessing phenomenal developments like never before.