Mr. Anshuman Magazine, Chairman and CEO, India, South East Asia, Middle East and Africa, CBRE  

 “A stable, forward-looking government goes a long way in building a robust economy which in turn will further strengthen India Inc.  From policy overhauls to amendments in the older acts to ensure that these acts are relevant in today’s times, the foundations laid down by the Government during its last tenure will bear fruit during this term and will further boost the growth of the country. In order to ensure sustainable growth of the real estate sector, the Government of India undertook several steps such as implementing the Real estate regulation and development act (RERA) and Good and services tax (GST), provision of incentives for the affordable housing segment and easing out norms for REITs, amongst others.

 Regulatory policies such as RERA have acted as a relief to home buyers and protected their interests in many ways. A growing number of homebuyers have showed faith in newly launched projects, following the implementation of RERA and GST. The norms specified under RERA, not only ensure transparency in transactions.

 Additionally, the GST council has also reduced the GST rates for under-construction flats and affordable housing to five per cent and one per cent, respectively and increased the carpet area of flats under affordable housing. These reforms have strengthened investor sentiments and contributed to the growth in demand.  Tax benefits and exemptions announced in the interim budget have also renewed positive sentiments for homebuyers and developers.

 CBRE is positive that the re-elected Government will further work towards strengthening the economy and successfully conceive and implement more and more promising schemes and programs, conducive to the sector.”