The silver lining for residential property buyers was the June 2018 amendment of the Insolvency & Bankruptcy Code (IBC), 2016, which classified home buyers as financial creditors as opposed to their previous operational creditors status.
2017 was a bad year for Indian realty. Launches dulled as the industry reeled under the impact of demonetisation and the newly introduced Real Estate (Regulation and Development) Act (RERA) and Goods and Service Tax (GST).
Sobha Ltd organised first-of-its-kind real estate conclave, centered around the theme—Agents of Change. The conclave highlighted forward-looking trends in the real estate industry, with an emphasis on Bengaluru market. It also deliberated on the latest technological advancements as well as other topical reforms such as RERA.