Boman R. Irani, Chairman and MD, Rustomjee Group on his overview for 2016 and outlook for 2017 said:
“2016 has been an eventful year with announcement of major policy reforms like implementation of Real Estate (Regulation & Development) Act, softening of home loan rates and the rise in FDI in real estate & construction sector. The government has taken various steps to enhance customer confidence and bring transparency in the sector. With proposals like the Benami transaction act, GST in the pipeline, the trend is surely likely to improve in 2017. Demonetisation will also bring better results to reputed developers by making the market a level playing field. We are also hoping that Union Budget 2017 will bring significant reforms in the real estate sector and the future looks promising.”
