Real Estate Market Outlook Residential, Office, Retail and Logistics Sectors
CBRE Report
India continues to hold its position as the world’s fastest growing G-20 economy. On the back of improved investor confidence and better policy reforms, India’s economic growth stood at 7.6% in the year ending March 2016, an uptick from the previous year (7.1%). However, after the demonetization drive undertaken by the Indian Government in November 2016, growth projections were lowered. The impact of demonetization was expected to be catastrophic for the economy, however, actual figures released for the initial months of 2017 have been encouraging; indicative that the economy is already on its way to fully absorb the impact of the policy.
The year 2017 is expected to be a year of fructification – with the results of all policy initiatives taken in 2016 beginning to take shape. Most of the steps, including Real Estate Regulatory Act (RERA), Goods and Services Tax (GST) and Real Estate Investment Trusts (REITs), are aimed at improving transparency and enhancing the overall investor sentiment.
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NBM&CW June 2017
