According to the Indian real estate developer, the market will show an upward trend in the first quarter of the next fiscal year after the issues like GST and RERA are resolved.
National chairman of Confederation of Real Estate Developers Association of India (Credai), Getamber Anand, said the market is expected to stabilize in the last quarter of the current financial year.
According to Anand, “Demonetisation, RERA, GST didn’t have a much of positive impact on the real estate sector and We are expecting government cutting GST rates on housing,’’
Pradhan Mantri Awas Yojana which provides credit linked subsidy scheme will facilitate and improve the housing in the affordable section and the general public should make use of it.
But, on the one hand, the government is providing a government for affordable housing and on the other, it is keeping the prices housing raw material high like cement (28%) on higher slabs and government should bring it down so the real sector can grow on a constant rate.
By
Angad Sadana