New Year NEW BE­GIN­NINGS

Realty Plus - - Editor-In-Chief Note -

ANNURAG BA­TRA

PUB­LISHER & ED­I­TOR-IN-CHIEF

The Year 2017 started with the Tsunami of sorts brought about by triple wave of De­mon­e­ti­za­tion, RERA and GST. The dis­rup­tions con­tin­ued over the year with the Be­nami Prop­er­ties Act fol­lowed by the amend­ment to the Bank­ruptcy and In­sol­vency Code. Si­mul­ta­ne­ously, were an­nounced the Gov­ern­ment’s am­bi­tious ‘Hous­ing for All by 2022’ mis­sion and the ‘In­fra­struc­ture sta­tus’ to af­ford­able hous­ing. The realty sec­tor also wit­nessed some tweaks to the def­i­ni­tion of af­ford­able hous­ing and houses clas­si­fied un­der MIG as well as re­vi­sion of GST tax slab for cer­tain build­ing & con­struc­tion ma­te­ri­als. An event­ful year in­deed! By all means, 2017 proved to be a turn­ing point for the real es­tate sec­tor. For the first time, the sec­tor re­ceived the fo­cused at­ten­tion of the gov­ern­ment and in­tro­duc­tion of some pro­gres­sive poli­cies and frame­works needed for the en­hance­ment of the sec­tor.rid­ing on the pre­vi­ous year’s re­forms, there is an ex­pec­ta­tion of over­all 10% to 15% growth in the sec­tor next year. Over­all, 2018 will be the year of con­sol­i­da­tion in the in­dus­try and gain­ing con­sumer con­fi­dence and their trust back. Look­ing for­ward to the New Year, the real-es­tate de­vel­op­ers ex­press the hope that hav­ing been reg­u­lated like an in­dus­try, the sec­tor would also be given the sta­tus of an in­dus­try. The In­dian real-es­tate wish list for year 2018 in­cludes - quicker per­mis­sions and ap­provals, Sin­gle win­dow clear­ance, real-es­tate un­der GST, tak­ing-off of REITS an­deasier ac­cess to in­sti­tu­tional credit to help re­duce cost of bor­row­ing. For Realty Plus, the year will be­gin with the IN-EX Awards for the build­ing ma­te­ri­als sec­tor, rec­og­niz­ing the in­no­va­tion in prod­ucts, brand­ing and mar­ket­ing and its 13th An­niver­sary is­sue fea­tur­ing the new gen­er­a­tion of or­ga­ni­za­tions and in­di­vid­u­als that are all set to take this sec­tor on an un­charted path. So, wish­ing ev­ery­one a suc­cess­ful and glo­ri­ous 2018!

Newspapers in English

Newspapers from India

© PressReader. All rights reserved.