Compare Listings

Real Estate Companies Waiting For Clarity On GST, New Law: Survey

Real Estate Companies Waiting For Clarity On GST, New Law: Survey

The stakeholders are not very clear about the impact of the changing environment on account of policy interventions like Real Estate (Regulation & Development) Act, 2016 (RERA), Benami Transactions (Prohibition) Amendment Act, 2016 and Goods and Services Tax (GST).

Sentiment in real estate sector has improved post demonetization but the industry is still in ‘wait and watch’ mode due to lack of clarity on reforms, including the new real estate law and GST, according to a study.

Property consultant Knight Frank India and FICCI today released its real estate sentiment index, based on a quarterly survey of key supply-side stakeholders, which include developers, private equity funds, banks and non-banking financial companies (NBFCs), “Post the policy intervention by the government in November 2016 that shook the real estate sector, the current sentiment score (53) has seen a substantial uptick from the drastic fall seen in Q4 2016 that had pushed the score to 41, which is the worst in the last three years,” the report said.

“This substantiates the transitory impact of the demonetization policy initiative,” it added.

The “wait and watch mode” is still prevailing in the sector in the expectation of clarity on various policy measures by the government in the next six months.

The stakeholders are not very clear about the impact of the changing environment on account of policy interventions like Real Estate (Regulation & Development) Act, 2016 (RERA), Benami Transactions (Prohibition) Amendment Act, 2016 and Goods and Services Tax (GST).

The real estate sector is facing a multi-year slowdown due to poor demand because of high prices. The sluggish demand has resulted in liquidity crunch to developers and huge delays in delivery of projects.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

For the latest news on Business, like us on Facebook and follow us on Twitter.

Source: ndtv profit

img

Axiom Landbase

Related posts

In FY24 – Smartworld Developers are set for two new geographies. Toplines of rs 7,000 cr

Smartworld Developers Pvt Ltd has recently made recorded sales worth rs 3500 cr in FY 2022-23. Now,...

Continue reading
by Axiom Landbase

How New Gurugram is the Fastest Growing Realty Hub For Mid-Range Housing

New Gurugram recently emerged as a real estate hub for homebuyers looking for their dream home. The...

Continue reading
by Axiom Landbase

Prime Minister Modi Is Going To Inaugurate the Much-Awaited Dwarka Expressway in June

Prime Minister Narendra Modi is expected to inaugurate the Gurugram section of the Dwarka...

Continue reading
by Axiom Landbase

ENQUIRE NOW