New Year NEW BEGINNINGS
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!