Demand for plumbing has contracted about 15 per cent this last year, the cumulative effect of demonetisation, and the implementation of RERA and GST,' estimates Gurmit Singh, National President, Indian Plumbing Association.

The budget reaffirms continued focus on Infrastructure and programmes such as Smart City mission, AMRUT, NMCG, the Regional Connectivity Scheme (UDAAN) etc. as can be seen by increased outlay by 20% from the previous year. The key takeaway form this budget is the thrust on social and rural infrastructure including health, education, housing, agri-value chain and penetration of digital infrastructure.

According to Pankaj Goel, Secretary, CREDAI-NCR, “The Union Government initiated the move to demonetise high value currency notes previous year, which impacted more or less almost every industry in India. As far as the real estate sector is concerned, the commercial market remained unaffected by demonetisation.

Magnetic Autocontrol is the leading manufacturer of entrance control products, both vehicle and pedestrian access control. Founded in India in 2000, the company is the largest multinational barrier manufacturer in India with a strong manufacturing and support facility.

The Ministry of Housing and Urban Affairs has asked the National Housing Bank (NHB), HUDCO and public-sector banks to more proactively promote the Credit-Linked Subsidy Scheme (CLSS) of the Pradhan Mantri Awas Yojana (PMAY) (Urban) to meet the target of Housing For All by 2022.

Being pegged as a revolutionary tax reform since Independence, the Goods and Services Tax (GST) is likely to eliminate the complex and ambiguous tax structure plaguing the country currently.

The union government has proposed a public private partnership (PPP) Policy, under which affordable housing will be provided land in order to boost housing development. The Ministry of Housing and Urban Poverty Alleviation (HUPA) has formed the model of PPP policy for affordable housing to induce the developer to explore extra developable area.

The Monetary Policy Committee (MPC) review meeting has concluded, announcing no policy rate change (repo rate stays at 6.25 per cent, the reverse repo rate at 6 per cent, and marginal standing facility rate at 6.5 per cent). It maintained its neutral monetary policy stance, but significantly softened its tone on inflation. Five out of six members were in favour of the monetary policy decision.

A greater part of the country's developers appear to be on a ‘Mission Project Completion’ nowadays, possibly it is an impact of RERA.