The government’s recent judicial reform with regard to facilitating ease of doing business, will provide a boost to real estate investments, especially FDI.
In a recent move, the government has decided to link property registration with the National Judicial Data Grid. Simultaneously, the Law Ministry is ramping up the network of dedicated commercial courts to boost the confidence of foreign investors. The idea is to facilitate ease of doing business. India has attained an improved 63rd ranking in World Bank’s Ease of Doing Business Index 2020. It has been made mandatory for the commercial courts to do e-filing . Further, to ensure time bound disposal of commercial cases. The government has created additional posts of higher judicial services in Delhi High Court.
Says Mr. Pradeep Aggarwal, Founder & Chairman, Signature Global and Chairman, Assocham National Council on Real Estate Housing and Urban Development, ” This is a positive reform measure by the government. It can be seen in conjunction with the central government’s recent policy initiative to launch GIS- based one-stop repository of India’s land bank across states. Both these measures will further help improve our ease of doing business index. This will in turn boost the confidence of investors, leading to improved level of investments in real estate.