A major impact on the real estate sector can increase the growth of the sector basis some favorable changes. Though the government has been making some evident changes for the sector, but still not all the anticipations or demands have been contemplated by the government in a positive manner.
The realty players are highly anticipated of the Budget 2019-20 and are expecting some changes in the real estate sector. Announcing the ‘industry status’ for the real estate sector is the first and the foremost demand by the realty players. The second demand is having a ‘Single Window Clearance’ regime which is preferred both by the builders and the buyers. The third support required to make the real estate sector more attractive and affordable is to justify the impact of GST on the market.
Mr.Pradeep Aggarwal, Co founder& Chairman, Signature Global and Chairman, National Council on Affordable Housing, ASSOCHAM elaborates, “Some shortcomings in the sector have been set right by RERA (Real Estate Regulatory Act), but having a ‘Single Window Clearance’ system will be fruitful for the sector and will thereby reduce the delays in the delivery, construction and possession to the unit holders, thus significantly benefitting the sector in the long run.”