The first half of 2017 witnessed a minimal variation across various market indicators except new launches. Housing supply across key cities declined by approximately 20 per cent largely on account of developers anticipating dip in demand post demonetisation coupled with muted investor demand. The sector has long faced issues in terms of macroeconomic conditions and fiscal policy decisions. One such challenge is the management of multiple indirect tax levies. With the launch of Goods and Service Tax (GST), which subsumes multiple indirect taxes, tax compliance will be simplified and scope for multiple taxation will be minimised. With the Real Estate (Regulation and Development) Act (RERA) has come into force, India has got its first realty regulator. The recent legislations and reforms in the real estate sector have paved the path for a transparent real estate regime.
Key takeaways from this report are:
- News update for the period
- Regulatory updates like the introduction, benefits and challenges under GST
- RERA headway
- Emerging trend of co-working spaces
- Significant deals and exits in the sector
- Market speak - Mr. Ravi Aggarwal – Co-founder and Group Managing Director, Signature Global Group shares his views on the recent developments in the real estate sector.
We hope you will find this report informative. Read the full report for more insights.