India is set to spend USD 1.4 trillion on developing its infrastructure in the next five years, according to the Union Finance Minister Nirmala Sitharaman. The move is seen in the backdrop of the country’s ambitious goal to become a USD 5 trillion economy by 2024.
Real Estate (Regulation and Development) Act (RERA), demonetisation, the Real Estate Investment Trust (REIT) and the Goods and Services Tax (GST) are transformational reforms that are expected to bring transparency, efficiency and credibility to the sector.
The real estate investment trusts (REITs) and infrastructure investment trusts (InvITs) can help raise close to Rs 50,000 crore in the near-term, given certain players’ interest in the infrastructure and real estate space, according to a report.
The Indian construction industry has grown consistently in the recent past. The overall gross value addition (at current prices) has been around 8.04 per cent and around 26.87 per cent of the overall industry sector´s contribution.
In the light of the shift in power at the Centre, RAJENDRA VARMA talks about the boost in confidence and hope for the construction and infrastructure industry. VThe decisive change of government has instilled a lot of confidence in corporate, business owners and real estate companies.