Property Expert - September-October 2016.pdf

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SEPTEMBER-OCTOBER 2016
PROPERTY EXPERT
1
With
Your
Blessings
Û
From Editor’s Desk
Towards smart and
sustainable cities
he shadow of slowdown over the real estate
sector persists despite several favourable
policy announcements, off late, such as the
Real Estate Regulation & Development Act
(RERA) 2016, Smart Cities, Atal Mission for
Rejuvenation and Urban Transformation (AMRUT),
Housing for All, removal of restrictions on foreign
direct investments, recent amendments to real estate
investment trust (REIT) norms, and Goods and
Services Tax (GST). Basically, most of these pro-
nouncements are yet to see their fullimplementation
and impact in the absence of which any immediate
push to the ailing sector or return of confidence of
both investors and end users is simply ruled out.
The real estate sector is facing liquidity crunch and
slump in demand—the two obvious reasons why the
things are not looking up. High interest rate is one of the reasons for
this tumultuous situation. Now the real estate sector is looking upto
the new RBI Governor who has the most challenging task at hand to
bring the interest rates down to such levels at which a common man
can afford home buying.
India’s real estate sector has suffered in the past due to delay in proj-
ects and lack of a regulatory authority. RERA will protect the interest
of the home buyers as well as encourage investments from foreign
and domestic financial institutions. Mandatory disclosure of proj-
ects, including details of the promoter, project, land status, clear-
ances, approvals, etc. would go a long way in introducing profession-
alism in real estate sector.
Currently, prices are more, or less stagnant in the real estate market,
but the buyers are facing the heat of high interest rates and so
demand is missing. The interest rate on home loans is on downward
spiral, but it will be a while the true impact of the emerging benefits
of favourable policies will be felt and buying activities will gain
momentum.
Late. Dorilal Agarwal Ji
(Founder Amar Ujala)
T
Late. Prag Devi Agarwal Ji
Late. Anil Agarwal Ji
(Chief Editor Amar Ujala)
Late. Dr. Kamal Agarwal (Anil) Ji
(Founder Disha Bharti Media Pvt. Ltd.)
The last couple of festive seasons have failed to revive the sector, but
the hefty hike in salaries of the government employees following the
7th Pay Commission is likely to act as a game changer this year. It has
also created new criteria of project classification and the developers
2
PROPERTY EXPERT
SEPTEMBER-OCTOBER 2016
September-October, 2016, Vol. 3, Issue-5
Editorial Team
Editor
Managing Editor
Editorial Director
Asst. Editor
Consulting Editor
Special Correspondent
:
:
:
:
:
:
Saurabh Anand
Surbhi Anand
Sagar Anand
Nidhi Anand
Vishal Duggal
Sujeet Kumar Jha
have started launching special schemes and projects targeting the
government sector employees.
This year, there is undoubtedly improved positivity in the market and
the fast approaching festive season is expected to provide the home
seekers an opportunity to cash in on the freebies and discounts as
well. The real estate sector may witness growth in the next couple of
months by when the impact of the recent policy announcements will
also be felt as their implementation is already in the queue. The
macroeconomic indicators and steps taken by the government to
bring transparency in the real estate sector hint at reviving the sector
soon.
There needs to be more focus on urban planning. The ‘Housing for All’
mission is likely to boost the supply of affordable homes which
accounts for 90% of the housing demands across the country.
In the given scenario, the developers will do well to be a little more
proactive and sensitive towards constructing low-cost housing with
higher quality for the middle class and lower income home buyers.
They need to have a definitive agenda for the delivery of their projects,
which may restore their credibility apart from bridging the ongoing
trust deficit that property buyers have.
In this issue we have tried to bring articles related to GST and what
would be its effect on the real estate sector. Other very interesting arti-
cles such as “RBI Status Quo, Disappointing for some” “Shop Day And
,
Night” and “'Real' Game-Changer of Realty” await you in this issue so
,
read on a get enlightened!
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Saurabh Anand
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Editor :
Saurabh Anand
SEPTEMBER-OCTOBER 2016
PROPERTY EXPERT
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