Being one
of the prime contributors towards Indian GDP and employment generation, a lot
is always expected out of the real estate sector. This sector alone is
responsible for being a user for over 30 allied industries and sectors. As we
bid a goodbye to 2015 and gear up for 2016, a lot has changed since the
beginning of this year where several major announcements were made for
infrastructural developments and the country in general that will highlight
realty sector as its backbone. Much was delivered during the course with still
some left in pipeline for the next year.
After RBI’s push in the beginning of the year,
budget session was near where industry status was hugely in demand from this
sector’s players. Single window clearance system, Land acquisition bill and
RERA bill had also started to make rounds as the dreams of next level
infrastructure was pretty much on the cards. “Industry status for the realty
sector has been long in the wishlist of the players along with a regulatory
body at the centre to curb the problems pertaining and bring much needed
transparency. First budget by the new government was unable to meet sector’s
expectations on this line, but talks are still going on with chances looking
bright of its execution by next year. With Smart India Mission underway, it
will become crucial to pass these bills and give an industry status to the
realty sector soon”, explains Mr. Mukesh Khurana, MD, Rudra Buildwell.
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