real es­tate mar­ket primer

Hindustan Times (Chandigarh) - Estates - - FRONT PAGE -

Mar­ket goes slow on pro­ject launches:

Through­out 2016, the num­ber of new res­i­den­tial pro­ject launches was lower than units sold. As of now, most states are in the process of im­ple­ment­ing the Real Es­tate Reg­u­la­tion & De­vel­op­ment Act (RERA) be­fore May 1, 2017. RERA is ex­pected to in­crease con­sumer con­fi­dence

Goods and Ser­vices Tax:

GST and the Be­nami Prop­erty Act is ex­pected to have a ma­jor im­pact on how de­vel­op­ers run their busi­nesses. De­mon­eti­sa­tion changed how builders op­er­ated, but did not af­fect self-gov­ern­ing mar­ket play­ers with the right prod­ucts tar­geted at the work­ing masses, says an anal­y­sis by JLL In­dia

End-users dom­i­nate the mar­ket:

Cur­rently, the res­i­den­tial prop­erty mar­ket is dom­i­nated by end-users - spec­u­la­tive in­vestors are mak­ing a bee­line for real es­tate as an in­vest­ment cat­e­gory, says a JLL In­dia anal­y­sis

Af­ford­able hous­ing:

With Bud­get 2017 pro­vid­ing in­fra­struc­ture sta­tus to af­ford­able hous­ing, the seg­ment will get a boost with more de­vel­op­ers en­ter­ing this seg­ment The gov­ern­ment’s dream of Hous­ing for All by 2022 ap­pears at­tain­able now. The qual­i­fy­ing cri­te­ria for af­ford­able hous­ing were also re­vised to 30 sqm and 60 sqm on car­pet rather than saleable area in the four main met­ros and non-met­ros re­spec­tively

CLSS and PMAY schemes:

A new Credit-Linked Sub­sidy Scheme (CLSS) for the mid-in­come group with a pro­vi­sion of ` 1,000 crore in 2017-18 was an­nounced be­fore Bud­get 2017-18. Ex­ten­sion of ten­ure of loans un­der the CLSS of Prad­han Mantri Awas Yo­jana (PMAY) was in­creased from 15 to 20 years, and the Bud­get also in­creased al­lo­ca­tion to PMAY from ` 15,000 crore to ` 23,000 crore in the ru­ral ar­eas

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