ON THE ROAD TO RE­COV­ERY

Realty Plus - - Contents - an­nurag ba­tra Edi­tor-in-chief Realty Plus Chair­man ex­change4­me­dia Group

In­dian real es­tate has grad­u­ally emerged from the shad­ows of In­dian govern­ment’s so­cial­ist agenda of pro­vid­ing hous­ing, started in 1950-60s and car­ried on till 1980s. The govern­ment fi­nally re­alised that it can­not pro­vide hous­ing to all, as it en­vis­aged ear­lier and with the lib­er­al­iza­tion of econ­omy in 1990s, the govern­ment be­came more of a fe­lic­i­ta­tor of hous­ing, pro­mot­ing pri­vate par­tic­i­pa­tion in build­ing hous­ing across the coun­try. Fast for­ward­ing to to­day, the real es­tate sec­tor from the highs of 2010 and tur­bu­lent times of 2017 is now on the path to re­cov­ery. The much needed re­formist poli­cies of RERA and uni­form laws like GST will not only boost the do­mes­tic mar­kets but will also cre­ate con­fi­dence among global in­vestors to foray in the In­dian real es­tate. The re­sults of these pos­i­tive de­vel­op­ments are al­ready ev­i­dent as seen in in­creased pri­vate eq­uity fund­ing in res­i­den­tial as well as com­mer­cial seg­ments of real-es­tate. The home buyer’s con­fi­dence is at its all-time high, with their re­newed faith in ju­di­cial and real es­tate reg­u­la­tory bod­ies for speedy res­o­lu­tions. How­ever, while there have been a lot of af­fir­ma­tive de­vel­op­ments for the In­dian realty sec­tor, there still are many pain ar­eas that need to be ad­dressed. The re­spected and es­tab­lished pri­vate de­vel­op­ers and real es­tate bod­ies will have to part­ner with the govern­ment to iron out the dif­fi­cul­ties and pave the way for smooth and ef­fi­cient realty sec­tor, that is at par with global stan­dards. We have not reached there but are surely and steadily on the way to achiev­ing the aim of be­ing a pro­fes­sional real es­tate sec­tor and a suc­cess­ful in­dus­try like any other. This is a pe­riod of change that will ben­e­fit se­ri­ous pro­fes­sion­als and weed out the non-se­ri­ous play­ers in for mak­ing a quick buck. Realty Plus as al­ways has en­deav­oured through its un­bi­ased cov­er­age of the sec­tor, to bring to at­ten­tion the per­ti­nent is­sues of the real es­tate. Our soon to re­lease Cof­fee Ta­ble Book “Homes for All” is the step in the di­rec­tion of high­light­ing the good work of the in­dus­try in this seg­ment. We look for­ward to a bright new be­gin­ning for the sec­tor. “The ac­tions we take ev­ery day shape the fu­ture.”

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