Realty rallies Rs. 38,000-cr from investors

Recording an encouraging inflows of funds of 62% amounting to Rs 38,000-cr from PE investors in the current fiscal, the country's real estate sector appeared to have turned out to be the most sought after sector for ensuring healthy returns, as per the latest data compiled by global real estate services major JLL India experts. The study claimed that the trend is largely helped by Parliament's clearance of two significant legislations — Real Estate (Regulation and Development) Bill and GST. The inflows is the second highest-level for a year since 2007 as interestingly, PE investments worth Rs 21,000-cr alone pumped in the second half of 2016. This is 121% more than PE investments recorded in the same period year-ago. The performance was due to increased confidence shown by investors post the Parliament's passage of RERA [Real Estate (Regulation & Development) Bill] and GST (goods and services tax), JLL India managing director (Capital Markets) Shobhit Agarwal said.