Policy reforms in the real estate sector would lead to greater transparency, improved investments and affordable housing
India’s real estate and construction sector is going through a transformative phase on the back of reformative steps taken by the government, such as streamlining approval processes, simplifying taxation (Goods and Services Tax), building institutional capacity, and introducing urban planning and real estate-related reforms (e.g., RERA and Real Estate Investment Trusts). Furthermore, there would be opportunities galore in a number of projects, including 100 Smart Cities, Delhi–Mumbai Industrial Corridor (DMIC) and Pradhan Mantri Awas Yojana (affordable housing), creating support for urban infrastructure. It is estimated that the overall investment of over USD4–4.5 trillion is needed over the next five to seven years, excluding anticipated investment demand for green building materials’ and technologies’ markets worth USD300 billion across asset classes. The report calibrates the steps taken so far to streamline the sector, while identifying the opportunities and highlighting the key trends therein for industry professionals, policymakers and key stakeholders.
© 2019 KPMG, an Indian Registered Partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.