Eased FDI norms mere sentiment positive: Knight Frank

Gulam Zia, executive director, Knight Frank says easier land acquisition rules and a real estate regulator are direly needed by the sector right now.

The Union Cabinet's move to ease the FDI policy in construction is merely a sentiment positive for the sectors, says Gulam Zia, executive director, Knight Frank.

In an interview to CNBC-TV18, Zia says one of the biggest obstacle for the sector is that it continues to be a state subject.

"So, despite all these moves the Centre can do very little about it," he says.

On what can be done to boost the sector, Zia says land acquisition, insurance and a real estate regulator is direly needed right now.

"Also the government should make a mechanism that can check whether the FDI inflows go into high-end realty or into affordable housing," he adds.

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