November 1, 2018
Rakesh Reddy, for The Property House magazine,
The real estate industry has been impacted to a great extent because of numerous policy interventions like the implementation of GST, Real Estate Regulatory Act (RERA) and the Benami Transaction (Prohibition) Amendment Act. But these reforms have instilled confidence in today’s Indian consumer, which has resulted in India being ranked 77th, improving by 23 positions out of 190 economies on the Ease of Doing Business.
India’s current ranking in the ease of granting construction permits has improved by 129 places since last year. This is evidence enough that the Indian real estate industry has benefitted from these reforms. The overall goal of these policy interventions is to shift towards a cashless economy, in order to bring in transparency to the valuation of properties and protect the interests of home buyers in an efficient manner.
To read our Director’s take on this, have a look at the page below, from the Property House Magazine.
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