What would hurt both the buyers as well as the builders is the fact that the property buying and selling would continue to be at standstill. The job market is not picking in any given industry and it would hurt the overall business.
A year back at the end of 2016, the doom mongers were out in force. In our office sector there were those who were predicting a slump in demand, uncertainty around the new Government in the US, the scare stories around automation and AI, the performance of the top 5 Indian ITeS companies, exaggerations around layoffs and even the dramas of corporate Boards of great Indian technology companies.
The more liberalized FDI regime now further attracting global capital flow to Indian real estate sector. The Goods and Services Tax (GST) system will also have a major impact especially in sell to build model in Real Estate. And the Benami Property Act will surely curb the parking of black money in real estate.
The year 2017 turned out to be a landmark year for the economy at large and the real estate sector in particular. Several historic reforms and policies were rolled out. Beginning with the Union Budget, the affordable housing received a huge impetus in the form of infrastructure status.
A Track2Realty pan-India survey finds that despite of high spending pattern of North Indians in general and Delhi-NCR in particular their investment and aspiration for a second home is far less than the citizens of Mumbai & Pune.
As home buyers rise up the economic ladder and get more exposed to the lifestyles of the rich in other countries, they demand similar services here in India as well. This phenomenon then becomes a ‘brand driver’ for developers who possess the skills and resources to cater to this segment.
The slowdown was predicted much ahead to the introduction of GST and RERA and we were prepared for it. Whenever there is a new law or regulation, changes are bound to impact any market and we must cautiously tread the transition phase. At the same time, the impact usually does not last long as people adapt to changes quickly. We continue to see good traction in our business despite these market challenges. Our business is based on certain core values, which we amplify to face tough challenges.
Embassy Group has been conferred the prestigious ‘Sword of Honour’ by the British Safety Council for three of its business parks – Embassy Manyata Business Park, Embassy TechVillage in Bangalore and Embassy TechZone in Pune.
The Gurugram Police has registered FIR under section 420, 406, 120B of IPC and other sections against Ajay Bijli, his brother Sanjeev Kumar Bijli, daughter Niharika Bijli along with PVR Limited and Eight persons including Renuka Ramnath, Amit Burman, Vikram Bakshi and others.
Francis VanEeckhout is CEO of Deceuninck, an 80-year-old Belgium-based brand dealing in UPVC door & window system. The company is one of the world’s leading UPVC profile company, having customers all over India and is ranked 3rd in the global market.