Fast growth across segments & micro-markets expected post April: Niranjan Hiranandani, Hiranandani Group
By: Niranjan Hiranandani, Co-founder & CMD, Hiranandani Group
The year 2016 was a landmark for Indian real estate from a policy perspective, with Benami Properties Act, RERA and GST as also the long term impact of Demonetization, redefined the paradigm of Indian real estate in the future. Each of these bring with them positives, which will enhance Indian real estate.
REITs and InVITs opening up avenues of investment in real estate to new segment of investors, focus on affordable housing as a result of ‘100 Smart Cities’ as also the ‘Housing for All by 2022’ initiatives of Prime Minister Narendra Modi, greater transparency as a result of RERA – these are among the positives that we should witness in 2017. Post-Demonetization, April 2016 is when we expect to see market movement get back to normal. GST will bring in transparency and clarity in Indian real estate, given these positives, post April 2017 should witness fast growth across segments and micro-markets in Indian real estate.