India 22 December 2016: “2016 will be most remembered year in Indian real estate industry. This is the year when most fundamental policy decisions have been taken to professionalize the industry. Bills such as Real Estate Regulatory Authority Bill, Benami Transactions Act, GST bill and policy decisions such as Demonetization of high currency notes will all work towards cleaning up real estate from black money mess which it finds itself in. Though in terms of metrics such as new launches and sales, 2016 has been bad especially given big hit of demonetization in last quarter of the year, but foundation for future growth has been setup. Year 2017 will see consolidation in Industry with multiple developers combining forces to sustain through RERA implementation. 2017 will see very few new launches. Sales will be slow in first 2 quarters of 2017 and should start picking up from 3rd quarter onwards. Its definitely most crucial time for industry where survivor will be winner in long run."
Quote from PropTiger on year 2016 and outlook for 2017
India 22 December 2016: “2016 will be most remembered year in Indian real estate industry. This is the year when most fundamental policy decisions have been taken to professionalize the industry. Bills such as Real Estate Regulatory Authority Bill, Benami Transactions Act, GST bill and policy decisions such as Demonetization of high currency notes will all work towards cleaning up real estate from black money mess which it finds itself in. Though in terms of metrics such as new launches and sales, 2016 has been bad especially given big hit of demonetization in last quarter of the year, but foundation for future growth has been setup. Year 2017 will see consolidation in Industry with multiple developers combining forces to sustain through RERA implementation. 2017 will see very few new launches. Sales will be slow in first 2 quarters of 2017 and should start picking up from 3rd quarter onwards. Its definitely most crucial time for industry where survivor will be winner in long run."