Indian property more attractive
India’s real estate sector is expected to witness boost in investments on the back of recent regulatory reforms, said professional services firm KPMG India in a report.
The government has announced key policies for real estate in the Union Budget for 2017-18. Within real estate, affordable housing now gets an infrastructure status. There is also relaxation on area measurement and a higher allocation of funds to the National Housing Bank. These announcements are a definitive positive sign for some time, the report said.
“Further, policy announcements like Real Estate Regulation Act made in 2016 coupled with deadline imposed on state governments to implement the same can go long way in easing consumer concerns around project delivery and curbing of malpractices in the sector. All of this is expected to lead to a significant cleanup in the sector, making it attractive for institutional players,” KPMG said.
In 2016, a total of $1.8 billion was raised by real estate-focused private equity funds in 2016. READ MORE: http://economictimes.indiatimes.com/articleshow/57493335.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst