Policy changes add to attraction of Indian realty
Bottom Line: The Indian property market has always been quite…
Bottom Line: The Indian property market has always been quite…
Bottom Line: The urban planners who are not exposed to…
News Point: Now that the Real Estate Regulatory Bill has…
Far reaching implications anticipated for the real estate and construction…
Minister promises Real Estate Bill will be regulation and not…
For achieving 10% growth, India’s domestic economy needs to attract added investor interest, including that of overseas funds. Increased levels of foreign investments would be welcome for the Government’s recently launched “Make in India” initiative as well.
Developers have their own expectations, because positive announcements for real estate buyers made during the budget will help increase the market sentiment, and therefore sales. The general hope is that the budget will provide cheer to intending homebuyers who have been deterred for various reasons.
For the last four years everyone within the built environment of Indian real estate, homebuyers included, wanted a real estate regulator but the consensus eluded.
What needs to be done to ensure that Real Estate Investment Trusts (REITs) get to be the game changer? In India, we have seen ‘pious thought’ and ‘positive thinking’ not always being supplemented by positive action on part of the ‘powers that be’; be they regulatory authorities or the taxation authorities. Challenges which need to be addressed include different rates at which stamp duties are levied, for purchase and sale of assets across various states in India. Potential exists; making it a reality is the challenge.
Track2Realty: Provide on-ground impetus for affordable housing In the previous nine-month Budget, the new government outlined its vision for boosting affordable housing. From the upcoming 12-month budget, the Indian real estate sector looks forward to provisions that firm this vision up on the ground.