The real estate sector as we all know is the major contributor to the GDP in India. Recently, there
have been policy amendments and law enactments into this sector. This has been done to revamp the
image of the real estate market so as to make it more trustworthy and reliable for the buyers and
investors. RERA act is to emerge as a constructive and mature plan to assure transparency in the
real estate sector. The affordable housing mission has gained momentum as both the government
and financing institutions have enabled various policies benefiting the unprivileged section of the
society. Due to these reforms, the real estate sector would sooner be recovered and regain trust from
the buyers. The positive impact of the government policies is visible as more and more people are
turning up to buy these affordable projects.
As the financial institutions and micro-lenders are coming forward to contribute to the affordable
housing projects, it seems clear that the low-cost housing wing will stay in high demand for a larger
span. Past few years have been an adequate start for the affordable housing projects, the advent of
transparency through regulations is going to ease larger proportion of people. There will be an
entirely different perspective for the real estate industry. This would benefit the market and
introduce new and serious investors. People who had been willing to invest in the sector but had cost
and assurance related concerns will be able to invest their hard-earned money smartly.
“The execution of such benefitting policies has already commenced and hopefully, there are some
more lined up for the right time. With quick execution and policy change, the sector will give rise to
new parameters and housing styles. This will also lead the financial institutions to work on lower
thresholds which will make new inroads for the home-buyers. The increase in demand for affordable
projects is seen on the real estate portals clearly by the experts. It’s a positive sign for us as we have
been focusing on a similar concept since the beginning. According to me, it’s not just the affordable
housing scheme but the array of amendments which is revamping the real estate sector’s image” says
Pradeep Aggarwal, Co-founder & Chairman, Signature Global.