Seminar on Real Estate: Challenges to Opportunities
Saturday: 1130 hrs: 17 August 2019; Montana Vista: Siliguri
The real estate sector bears a major impact on the economic growth of the country, this sector is of tremendous significance due to the key reasons as the foremost employment generator, as per projections, it is slated to employ 67 million people by 2022. As of now, GDP contribution of the realty sector ranges between 6% - 7% and with increased activity, it is expected to reach 13% by 2025. With RERA coming into force from May 2017, the sector totally turned its course of growth. With the regulatory authority imbibing financial discipline, transparency and accountability in the system, the Indian real estate sector is now considered to be a highly organized one and global investments are now once again making inroads in the country.
The supply-side dynamics have also changed recently amidst DeMo, RERA, GST regime and the Government’s focus on affordable housing. We have witnessed numerous renowned developers venturing into the affordable housing segment, to cash in on the opportunity. However, this segment is also being tested as there exists a huge demand-supply mismatch here. Not to be left behind – Affordable Housing, Smart Cities, Manufacturing and Warehousing are still chugging along – with the lifelines extended by policy makers. Real estates in Siliguri have gained the momentum in the recent years and there is an increasing demand in land which ultimately increases the land value and the cost of construction has kept pace with the land rates.
Keeping the above in perspective, Confederation of Indian Industry (CII) in association with CREDAI North Bengal is organizing a day long programme that aims to unveil this transformation, the sector is bound to undergo with the Policy Maker, Industry for the way forward for Real Estate on 17 August 2019 at Montana Vista, Siliguri.