The year 2017 has been a revolutionary year for the Indian citizens for a number of different reasons. Out of this, the not-so hyped real estate industry got the biggest limelight. The incumbent government is highly responsible for real estate getting such attention. While in all the sectors the present government implemented new rules and regulations, even for the real estate market, the things are pretty much the same.
While the biggest highlight has been the demonetization strategy of the government, its impact can be seen in each and every sector. Well, there was a time when the real estate industry shined exponentially with customers getting their desired home using the black money. But, with the demonetization strategy, all these types of things have definitely come to a halt.
Another triggering factor by the government in the real estate industry was the implementation of RERA rules and guidelines. Doing this, the government has assured to its mass that the transparency is maintained, and power thus lies in the hands of the customers rather than the real estate developers.
It can be very well understood why the real estate market got the main attraction. Out of several other transparency and empowering strategies, the main focus was the upliftment of the ambitious project of the government which is known as ‘Housing for all by 2022’. Keeping this in mind, the government has made sure to give quite a number of flexibilities while at the same time taking care of the infrastructural policies as well in this respect, there has been quite a number of grants that helped in taking this project to the next level.
In short, 2017 has been a great year in terms of development. Many policies were executed although some of them needed a good level of effort from the government itself to implement it. Considering the real estate developers, the government definitely made sure that the public is the ‘supreme’ one here.