Reading glass on India's real estate

Real estate in India is probably on the cusp of witnessing a mythological churning. The fruit of aggressive policy initiatives aimed at cleansing the industry for home buyers, developers and the economy as a whole alike.

Let us take a look at the new dotted lines that are engineering a metamorphosis in the sector.

Benami Transactions (prohibition) Act

This move described by many as a second salvo against black money after demonetisation is expected to bring a few substantial changes in the sector.

Central agencies have already attached lands worth several thousand crores in the nationwide crackdown that began last year, soon after the regulation became a reality.

First, the stringent approach to expose shady investors parking unaccounted cash in properties bought under dummy names will land deals from gathering dusts. It is known that many lands parcels take ages to change hands often because the title is not clear. The crackdown will hopefully make land deals less cumbersome. Seamless access to land parcels for developers is healthy for residential markets. It is also expected to win lenders’ confidence.