A new era in the Indian Real Estate has ushered with PM Modi’s victory in the year 2014. Along with his victory, he incorporated his vision to provide houses to all the citizens of our country by 2022 and altered the scarred face of the oppressed unorganized real estate sector. Tightening the central government’s grip on the sector, he introduced many big-bang schemes for the benefit of the customers.
Under the governance of PM Modi, the Indian Real Estate has been set to flourish in the long-term. Though the measures taken had a short term negative impact, but from major policy overhauls to amendments in old Acts, from a decisive impetus to infrastructure development, and from the arguably Utopian 100 Smart Cities and Housing for All by 2022, the short-term pain was fruitful for this long-term gain.
One of the most important trends that were introduced by the government is the Affordable Housing by bringing about the policy of ‘Housing for All by 2022’. This proved to be a huge turnover for the sector thereby increasing the sale in the market.
Mr. Pradeep Aggarwal, Founder and Chairman, Signature Global says, “The Central government has really changed the face of the real estate sector in the last five years by introducing many policies for the sector. The real estate sector went through a paradigm shift when RERA was introduced for the sector. This bought about many changes in the market by increasing its transparency and accountability thereby benefitting the sector.”