Realty to hit 200-mn sq ft mark this fiscal

Housing sales are expected to rise in 2019, according to CBRE's 'Market Outlook 2019 - India', released recently. About 200 million sq ft of space will be added in 2019 across segments including housing, office, retail and logistics, with realty stock reaching 3.7 trillion sq ft at the end of this year. Growth will be driven by factors such as technology, demand-supply dynamics, ease of doing business, transparency etc, said Chairman and CEO - India, South East Asia, Middle East and Africa, Anshuman Magazine. Post the policy reforms of 2017 such as demonetization, RERA and GST, the residential market is absorbing the impact of these changes and is on the path to recovery. This led to a growth of about 15 percent in new supply and 13 percent in sales.