Don't expect dip in realty prices: DLF's Rajiv Singh

Speaking to CNBC-TV18's Nayantara Rai he said, "Volumes will come down in certain markets but I still believe largely due to lack of supply."

According to Singh, demand is still strong but getting approvals in present environment is a challenge. We are struggling on volumes because of lack of approvals and not because of lack of demand," he added.

Below is the edited transcript of Singh's interview with CNBC-TV18. Also watch the accompanying video.

Q: How does the road ahead for the sector looks like?

A: I don't see prices coming down. Volumes will come down in certain markets but I still believe largely due to lack of supply. Approvals in the present environment are a challenge.

I can speak for our company, we are struggling on volumes because of lack of approvals and not because of lack of demand. We still believe the demand is potentially strong and once product is made available it's responded too at reasonable prices by our consumers.

Q: There are a lot of legal problems that you are facing at the moment, you are also at loggerheads with the Income Tax Department, DDA the Delhi High Court. Is all this slowing down DLF and its execution? Is too much focus perhaps been paid on the legal problems at the moment?

A: No I don't think so. There are two issues here, one is our business is legal intensive because we deal with land and a piece of paper attached to it. So some of the issues are just difference of interpretation, it's normal in our business. Maybe the media has now become far more focused on our sector so they get highlighted beyond certain point. So, I am not worried on that issue.

There are a couple of new laws which got introduced. Being a leader in the industry we have sort of taken upon ourselves involuntary the mantle to test out those laws. Some of the problems are just because it's the first time these laws are being tested. Eventually, whatever the final outcome of all the legal process would be, it will set a certain direction forward both for the regulators as well as for the industry.