After the implementation of RERA and GST, members from the development authority Naredco are set to take stock of the real estate scenario in New Delhi. According to realty experts, the focus of these members during the meeting will be to chalk out plans, with emphasis on affordable housing.
Members of the council said that the sector can bring a positive effect on the overall economic growth. The changes in housing policies are likely to benefit both buyers and sellers. The national real estate development council will not only deliberate on some regular issues during the meeting in New Delhi, but will also plot some strategies at the 14thNational Convention on Indian Real Estate unfolding the new era of development.
Arun Dev Builders said that the convention that tookplace on 28 and 29 August will focus on affordable housing in India, which is seen as a multi-trillion opportunity. The convention will attempt to figure out how the sector would take shape by 2025 and will also focus on the key trends during this time. Also, The Real Estate Act 2016, is likely to bring transformation into the sector too, as it has been adopted by various states that will change the scenario altogether.
The developers will play a vital role through next-generation real estate projects as a number of cities are going to be planned, suggest ArunDev Builders. GST and RERA may be seen as an enabler for buyers and real estate builders, but there are still some issues, which the developers are planning to take up to the government for discussion. Apart from some minor issues, the meeting of the development council will surely pave the way for affordable housing policies.