Budget Expectations 2017 for Real Estate Sector

Mr.Ravindra Pai, MD, Century Real Estate: "We believe that with two of the most significant reforms which will contribute to the cleaning up of Real Estate in the long run which is the Demonetisation and implementation of RERA in the year 2016 as also the stated objective of Housing for all by 2022, we are at an inflection point with respect to the Real Estate industry. We are hoping that in this budget, the term affordable housing is clearly defined and also accorded "Industry Status". We would also like to see more spends as also concrete steps in the digitisation of land/property records which is in tune with the digital India vision of the PM. This will considerably reduce litigation, free up more lands in cities to make it more affordable and reduce project timelines which will directly translate to lower costs to the end consumer."