CII Media Releases
Affordable Housing, RERA & GST are phenomenal initiatives to boost Indian Real Estate Sector: Mr Pinaki Mishra
Jul 19, 2017

Affordable Housing, RERA and GST are phenomenal measures to boost Indian Real Estate Sector said by Chief Guest Mr Pinaki Misra, Member of Parliament & Chairman of Parliamentary Standing Committee on Urban Development at CII Realty 2017. He added that as the sector is facing slight challengesbut with implementation of GST, it  would be beneficial for all in long term. He also said that handholding of State would play crucial role in success of the regulation.He further added that there are certain hurdles can be eliminated with the digitisation that would accumulate all the specific land records. He also emphasized on abolishing multiple clearances that would give pace to realization.

In his address by Mr Rajiv Ranjan Mishra, Joint Secretary, Ministry of Housing and Urban Affairs, Government of India said that there is need to understand the consumer sentiment for safe investment. He added that developers should focus on developing buyers confidence with timely delivery of possession. He said that State should actively implement construction timeline. He added that Affordable Housing to get much coveted infrastructure with boost in housing finance and improve infrastructure. He also said that there is significant growth in the loan upto 10 lakh by 43% and demand in smaller is high among all.Technology and Sustainability will play key role to drive the real estate.

Mr Anshuman Magazine, Chairman, CII Realty 2017 & Chairman – India & South East Asia, CBRE said that this is very interesting time for India’s real estate sector. He added that never before have we seen so much activity aimed at boosting the segment.The various Government reforms like demonetization, RERA and GST are impacting the overall sector said by Mr Magazine. He said that while in the short term these reforms are causing some pain and believe that the long term dynamics continue to be positive. The implementation of these policies will bring about transparency and efficiency which intern will lead to an increase in consumer and investor confidence, said by Mr Magazine. In the coming years, we will witness further traction towards infrastructure which will infuse growth and create more opportunities for the sector. He also added infact, medium to long term investment will increase which will create a remarkable difference for the real estate market. He further added as the market adjusts to the new reform and way of doing business, the future for the sector looks very promising.

Mr Rajeev Talwar, CEO, DLF Ltd in his address said that Indiahas changed vividly and there is huge opportunity lies in real estate sector that would create job for the living population in India. He said that there is need of strict implementation of regulation with adherence to time line provided. He added that Affordable Housing, RERA and GST would be gamechanger in Real estate and will create an opportunity for developers as well as buyers to fulfill their aspiration.

Mr Babu Khan, Regional Director, Confederation of Indian Industry (CII), Northern Region said that CII has been working closely with Government and stakeholders of all the 9 states of Northern Region towards the effective implementation of RERA. He added that with an objective to create awareness on RERA and GST, CII Northern Region has been facilitating training programme across Northern States in coordination with State Government.

The event marked the presence of eminent Speakers from K Raheja Group, SARE Homes, Select Infrastructure, Hiranandani Group, HDFC, American Express, SBI and others with presence of over 200 delegates from Real Estate Sector.

19 July 2017

New Delhi

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