Year ending quote from Mr. R K Arora, Chairman, Supertech Limited

New Delhi, December 19, 2017: “The year 2017 will go down as year of inflection point for the realty sector as the introduction of Real Estate (Regulation and Development) Act, 2016 or RERA promised a new era of transparency and professionalism in the realty industry. RERA promises to address the biggest issue concerning buyers – that of timely delivery of their homes and other properties. Further, the grant of Infrastructure status to affordable housing was a great move for the sector. The government also announced Credit Linked Subsidy Scheme (CLSS) during the year, thereby making loans available at much affordable rates, thereby benefiting both buyers and developers community. Under the scheme, interest subsidy is credited upfront to the loan account of beneficiaries through lending Institutions resulting in reduced effective housing loan and equated monthly installments”.

“The upcoming year will be the year of consolidation in the industry, where developers with deep pockets, commitment to corporate governance and transparency will sustain their operations while non-serious players will be weeded out. Though RERA, GST and demonetisation hit the real estate industry in the short term, these reforms are bound to benefit the sector and the economy in the long-term”.

Corporate Comm India(CCI Newswire)