Page 116 - Construction & Architecture Update JAN-FEB 2018

REAL ESTATE Quotes

2017 ends with new hope

for coming year

India is one of the fastest growing real estate market and 2017 was not less

than a roller coaster ride for real estate world. With the implementation
of demonetization, GST, RERA govt gave back to back shock to the country
for welfare, growth and increment in economy. These three steps assure
transparency and clarity in real estate sector.

Here are some view points of real estate developers -:

The countdown for 2018 has already begun. Year 2017 brought much
revival for the real estate industry. By introducing regulations like RERA,
Benami Transaction Prohibition, REITS, GST there is a long-term industrial
growth and it also impacts on ease of business by transparency at work.
On the demand side, the office space requirements of sectors such as
manufacturing, logistics, FMCG, etc., showed positive signs, and we expect this to
continue in the coming time ahead. Many malls which were to be completed in 2017
were completed in the year and many malls are to be developed in coming time. Many
developers, private equity players are also partnering with developers active in this
space to earn more profit in the sector. We believe that the Indian real estate sector will
emerge stronger, healthier and capable of long periods.
— Ravish Kapoor, Director, Elan Group

The year 2017 can be regarded as a watershed year for the real estate sector
due to the implementation of Real Estate Regulation and Development
Act (RERA)and Goods and Services Tax (GST). The forthcoming year is the
perfect time to invest in real estate sector as these legislations have heralded
transparency and accountability into the sector. Home loan rates, too are at
an all-time low and are expected to remain low in the near future as well. This implies
considerable savings in the EMI costs that will enable homebuyer’s to avail low-cost
home finance and fulfill their dream of owning a home.”-
— Harinder Dhillon, VP- Sales, DLF

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