Year 2016 has been defining with announcement of key policy decision and their implementation. 2016 was most transforming year for real estate industry. These policies will help more transparent and systematic. Residential market, has benefitted as developers has now shifted focus from project launches to timely deliveries which is a major concern for buyers. After demonetisation, more effect in residential property.
Mr. Pawan Jasuja, Director of Finlace Consulting said that 2016 has been roller coaster rise for real estate sector. Amid RERA and buyer’s protests across india, honourable courts off india emerged as the biggest shield for buyers and shattered many big names. This made the entire industry take immediate action in order to complete projects and resolve consumer grievances at the earliest. Apart from lower EMI, industry will get reliable players and actual home buyers. Hope this year will bring clarity and due responsibility in people related to real estate. People will be responsible for commitments and will now be prosecuted by the concerned authority. Overall, 2017 is being projected as the game changer for the real estate industry.