The year 2012 was a discouragement for Indian real estate developer. Now it is a big question on how the market performance would be in 2013. According to Ashutosh Limaye, Head-Research & Real Estate Intelligence Service, Jones Lang LaSalle India developers are hoping for an optimistic future with the government’s plan to give realty sector an industry status and favourable policies, after a long wait.
The government had instigated certain policies in favour of real estate industry at the end of 2012, and this current year will witness many of such favourable government policies being implemented.
Few of these policies are the most awaited real estate regulatory bill, the real estate investment trusts (REITs), the real estate mutual funds (REMFs), likely to get introduced this year; and the Land Acquisition and Rehabilitation and Resettlement Bill.