Nimish Gupta, Managing Director, RICS (South Asia)

The Union Budget needs to include a fresh wave of new investment in affordable housing that would give builders a clear economic incentive to deliver the homes needed by ordinary Indians, and help create many skilled jobs in the process. The budget should also promote greater uptake of new efficiency measures, such as the use of contract saving schemes or real estate investment trusts, which will increase the viability of housing schemes across the nation and unlock new investment opportunities. We seek a clear and consistent implementation of the Real Estate Regulatory Authority (RERA), a body that oversees the use of construction measurement codes, valuation standards and data collection, that will help regrow market confidence after a tumultuous 12 months.