Budget 2016: Impact of FDI in real estate sector and future expectations
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Where it stands?
Globally positioning India as an investment destination and improving India’s diplomatic and trade relation, Narendra Modi’s foreign stints have helped India attract more FDI. From the nations he visited during the financial year 2014-15, India received
But a recent
Overall sentiment happy
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Still revival hopes are high! The real impact of latest FDI liberalisation measures on foreign
1. Industry is happy and satisfied with current FDI reforms in construction development sector
Majority are happy with the recent steps of the Central Government and are satisfied with the policy development.
2. Increased confidence and optimism in industry towards future flow of FDI in real estate
Industry has shown high level of confidence and optimism towards future flow of
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3. Commercial & Retail and Residential real estate will gain significantly from the liberalisation of FDI in the sector
4. 100% FDI under automatic route in completed projects
100% FDI under automatic route in completed projects for operation and management of townships, malls/shopping complexes and business centres is a significant step taken by the Government, the industry feels.
What more should be done in the upcoming
1. Quick implementation of the Real Estate Regulatory Bill (RERA) to enable the
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2. Government of India should bring more clarity over the entry and exit norms and processes to be followed by investors.
3. Both Centre and State must work together to ensure removal of bottlenecks for faster implementation of reform measures for foreign investments in real estate.
4. Government of India could also consider a reduced lock-in-period applicable for FDI investments from 3 years currently to 1-2 years to further enhance investor interests.
The real estate industry is maturing. There is a wedge between demand and supply of housing. However, with increased market transparency, this demand/supply mismatch can offer immense opportunities for developers and investors alike. But a well regulated and consolidated industry is not a near future dream.
(Image credits: FICCI, indiatimes)
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