Karnataka real estate sector has given hopes to many potential real estate investors with the Karnataka sand policy 2021.
Real estate investment is considered as one of the most reliable future investments. The real estate sector in India is high in demand by both locals and NRIs. India is a developing country and with its increasing quality of life and employment opportunities, it is predicted to be a fully developed country in the near future.
The real estate sector in India is the second largest employer in the country. Karnataka real estate sector comes close to providing ample employment opportunities in the state.
For the past many years, the biggest issue that builders faced in constructing properties in Karnataka was the supply of raw materials like sand. Karnataka sand policy 2021 was formed to help make the construction of properties as easy as possible by enabling easy access to sand. This also eradicates the unsure and endless wait of general public for the supply of sand and having to hold the construction for the same.
In February 2021, Karnataka government reportedly identified 183 sand blocks for sand mining – for smooth sand supply to those who need the raw material to construct houses. Karnataka’s Mines and Geology Minister Murugesh Nirani mentioned that the newly proposed Karnataka sand policy 2021 was mainly address the demand-supply gap in sand supply. The ration of demand-supply of sand used to be approximately 10 lakh tonnes-1.1 lakh tonnes.
The real estate sector in India has had its ups and down with the implementation of RERA, hard hit of the COVID-19 pandemic, etc. With each state taking measures to stop corruption and make real estate investment fair and affordable by a majority of financial classes, Karnataka state has come up with the Karnataka sand policy 2021.