Demonetisation, RERA and GST have been the endurance test for the real estate industry

The EODB and Maha RERA have been a success not because the government has done it, but because the developer fraternity participated in it: Maharashtra Chief Minister Devendra Fadnavis who graced the Annual CREDAI- MCHI Property Expo. In his opening remarks at the annual CREDAI-MCHI property expo, Devendra Fadnavis, Maharashtra Chief Minister, said, “It is absolutely safe to buy a house at the MAHA Property Expo organised by CREDAI-MCHI as all the projects are MAHA RERA registered.”     He congratulated CREDAI-MCHI for organising the magnificent exhibition, which presents entire gamut of real estate industry in Mumbai and MMR along with the opportunity to explore various home finance options all under one roof. “People of Mumbai and MMR need the initiatives like Property Expo as buying a home is a lifetime investment and we Indians like to do lot of research while making a purchase. EODB and Maha RERA have been a success not because the government has done it but because of your (developer fraternity) participation in it,” added Fadnavis.   He stated that if we work in isolation, nothing is going to succeed. Associations like CREDAI-MCHI took up issues with government to ease various approval procedures and since then every day we the government is improvising up on them. Today, we are talking about ease of doing business among other cities of India; soon we will be competing with world cities.   The saying which goes for real estate industry: When going gets tough, the tough gets going. Toughness leads to endurance. “Demonetisation, RERA, GST have been your endurance test, now you will go northwards, just look up and landscape of Mumbai will change. From the government side, I would like to reiterate that I am aware that you still have lots of problems which I would like to trouble shoot. I still see you smiling in spite of all these problems, so keep smiling. That gives me inspiration to solve them.  I am confident that real estate industry of Maharashtra will contribute most to the GDP in near future.” expressed the chief minister.   Speaking on the occasion, Mayur Shah, President, CREDAI-MCHI,  said, “I would like to thank the Chief Minister for implementation of MAHA RERA, which is a great achievement for Maharashtra. Maharashtra is the only state where complete implementation of RERA has happened and this is courtesy our dynamic chief minister. RERA Registration is completely online and no one had to visit RERA office even once. Last year industry grappled with Demonetisation, RERA and GST, this year we expect stabilisation to happen. The real estate industry will touch new horizons soon. The objective of CREDAI-MCHI MAHA Property Expo currently happening in BKC is to providing complete housing solutions under one roof.”