New Delhi, February 03, 2017: Mr. Shrinivas Rao, CEO-APAC, Vestian – “From the residential standpoint, we believe the current budget proposed by the FM will have a positive impact on the Real Estate sector. Granting the affordable housing segment with an industry status will allow easy availability of funding/ financing of projects. Now with banks providing loan for affordable housing developments, it makes this a lucrative development option for developers and investors alike.
The Budget also proposes shortening of the time period for long term capital gain from 3 to 2 years, removal of FIPB and encouragement for land pooling, all of which is seen as a positive step from an investor’s standpoint.
From a macro perspective, these moves aim at revitalizing the ailing residential RE sector which is currently seeing over supply and depressed demand. These reforms along with digitization of land / property records are a step towards eliminating the “black economy” prevalent in the real estate sector and ensuring transparency and accountability in the real estate sector ”
Shrinivas Rao, a founding member of Vestian Global Workplace Services, is responsible for Vestian’s growth and expansion in Asia Pacific. With over 23 years of experience in global real estate industry, Shrinivas has assisted various multinational corporations with portfolio planning, strategic consulting, expansion/ relocation and project delivery in order to achieve their real estate goals in key Asian markets.
A recognized thought leader in the Indian realty space, his inputs have featured in leading industry stories. He has addressed major challenges as panelist in industry events (CREDAI, NASSCOM, RICS, etc) and regularly contributes articles on trends and developments for The Hindu, DNA and Times of India. He’s regularly invited by Zee Business to address property queries on their prime-time television news show Money Guru: Property, NDTV Profit’s The Property Show and Bloomberg TV’s Real Estate show.
Shrinivas is amongst the pioneers of professional real estate consulting services in India.
With a good many years behind him, Shrini is proficient with the ever changing dynamics of the Asian markets and accordingly adept at providing strategies and solutions that are in accordance with the evolving requirements of the market.
In his previous engagements, Shrinivas has successfully established UGL Equis’ Asia Pacific operations and has held senior positions with Cushman & Wakefield and Colliers, India.
Shrinivas received his BE in Civil Engineering and MBA in Marketing and Finance.
Corporate Comm India(CCI Newswire)
