He also asked the sector to submit their taxation related suggestions to the recently appointed panel on tax issues and said the government would seriously look into the final recommendations of the committee.
He said that easier availability of land for housing was very important while interest rates have already come down to bring down the cost of funding.
"The real estate should survive on market economy (and) subsidies should not be essence of survival for the industry," Jaitley said.
He said that inflation has been brought under control and Reserve Bank has already cut rates four times this year, which was a positive move for the sector and "hopefully those moves are here to stay".
"Age of slowdown for realty sector should now come to an end," he said.
On macro issues, the finance minster said the global environment has not been helpful and the impact was visible in exports slowing down in India.
"The biggest strength of India and the silver lining is its resilience... Our systematic firewalls have to be such that the ability to resist the global volatility are strengthened," he said.
"We are unquestionably one of the fastest, if not the fastest growing major economies... On revenue collection, the indications look more on the optimistic side," Jaitley said.


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