 Awards. Ladies and gentlemen on that note it's time to march ahead and invite our guest of honor who comes with more than 30 years of experience in the field of insurance and business management and ladies and gentlemen none other than the chief executive officer and managing director of LIC housing finance limited we have with us Sree Vinayasar so please put your hands together to welcome on stage Sree Vinayasar. A provision for adding to your height it's a very advantageous at times to to be short-heighted and people now most of us travel by air people who travel by trains and get the side berth they know what is the what are the advantages of 5 feet 4 inches or 5 feet 5 inches. Good evening ladies and gentlemen sir doctor Koraikewala executive director of work hard mr Niranjan Hiranandani managing director Hiranandhi constructions mr Anurag Bhatra chairman exchange for media group and business world distinguished guests ladies and gentlemen a very good evening to all of you at the outset let me thank reality plus for giving me the opportunity to be part of this event and LICHFL in fact is privileged honored to be part of this program this event for the last two years which is held as mr Bhatra was saying in several cities a very few words about real estate I represent the lender community and I see a lot of developers sitting here who know the market much better than what I know still real state which contributes over 8 to 9 percent of our GDP last two years I would say the sector has seen lots of ups and downs starting from infrastructure status being given to affordable housing the the great amount of tax concessions which I don't think any other sector enjoyed a zero tax concession this was followed by three four events which had a direct indirect impact on real estate demonetization rara reed gst prime ministers avas yojna IBC bankrupt several things happened and the sector witnessed ups and downs I would say a partial slowdown November December but I feel that this is just a transitory phase and probably things will improve with times to come with the prime minister's vision of housing for all by 2022 20 million units to be constructed sold by 2010 to do not a joke it's not a magic van sort of a thing that this will happen overnight the total sector per se would require about 260 trillion rupees involving the housing part infrastructure smart cities and other things I was just talking to Dr. Hiran and Nani and he said that probably affordable is something wherein the government is having a very large focus and there is no way out he said come what may you have to do it the three four events that have happened probably if we see them not as a crisis but if we see them as a challenge probably we can move ahead find a path and if we address those three four things probably today we are looking at in certain parts of the country unsold inventory unfinished product projects demand is on a probably on a wait and watch level the economic conditions in the country maybe the income levels have gone up people can afford more better houses today but along with that probably unless we address the two three issues that I've said regarding unfinished projects inventory the lenders have a problem may be created by them only not giving due diligence at the time of sanctions builders have to look into the unfinished projects mainly the unfinished projects Dr. Hiran and Nani also said a very vital thing that probably if we have the customer in focus for everything all segments if we have the customer in focus and plan accordingly maybe yes things will improve with the times to come rara has been implemented not yet in all the states not yet in the form it was conceptualized introduced but still I feel that this is one act which probably will eliminate totally eliminate the trust deficit between the customer and the builders friends a few lines words about my company we are a 28 year old company having a loan book of 1.5 lakh crores on the affordable sector we have started doing well I would say as far as retail goes we have disbursed more than 5000 units this year affordable projects we are open to good projects and we would be eager to partner with any of the builders for projects on the affordable segment friends before I end congratulations to the winners today in advance and I wish reality plus their efforts their initiative of recognizing talents and good contributors to the real estate sector my compliments and best wishes to reality plus also thank you friends thank you very much sir if I may please request you to remain on the stage I'd like to invite Mr. Anurag Bhattra to please come forward to present a token of appreciation to Ashree Vinay sir for his valuable presence this evening