Govt Not To Help Ailing Real Estate Companies: Minister
The Government has ruled out lending a helping hand to the real estate industry which has been battered by sluggish sales and rising inventory levels. “You can’t run a private sector organisation, goof it up and then go to the government to say ‘bail me out’. That’s not doable. Because if we were to go down that road, we would have airlines, builders, infrastructure, everybody coming and, so, you would have a nanny state,” said Mr Hardeep Singh Puri, Union Minister For Housing and Urban Affairs at an event in New Delhi recently.