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Editor’s Note

palash_royThe fired-up winter session of Parliament has begun and as we go to print, it is difficult to predict if GST (Goods and Services Tax) Bill and the Real Estate (Regulation and Development) Bill will sail through even this time. Real estate players are broadly unanimous in expressing their happiness in favour of the GST. But there are also reports that the Government is under pressure from both, the pro and anti-Bill lobbies, and the Bill’s fate is uncertain.

Let’s wait and watch if the political class is able to pull itthrough! With e-commerce being the in-thing, the public sector construction and realty giant NBCC is busy chalking out its e-commerce warfare strategy. The PSU is gearing up to enter the albeit-crowded online listing portal business. But it is going to be a game changer, claims Dr Anoop Mittal, CMD, NBCC, in a free-wheeling chat with Realty & More.

The man at the helm of the affairs in the company is aiming to surpass the targets the company has set for itself. There are numerous debates on the Union Government’s attitude towards various issues, but it surely means serious business when it comes to infrastructure. A recent testimony came on November 5, when Prime Minister Narendra Modi laid the foundation stone of the twin expressways, Kundli-Ghaziabad-Palwal (KGP) and Kundli-ManesarPalwal (KMP). On completion, these expressways will not only ensure smooth rides, but also result in increased economic activity.

The Government showered Diwali bonus on the industry when a day before the festival it liberalised the foreign direct investment (FDI) norms. Barring a three-year lock-in period for select projects, all FDI restrictions on real estate and construction sector have been done away with. The industry, on expected lines, is forthcoming in expressing its happiness. What are its implications on the sector, we dig deep in our cover story. Subhash Chandra, Chairman of the diversified business conglomerate Essel Group, has now announced its grand entry in the housing sector, albeit in the budget segment.

The Group announced ASHA 2022, its real estate foray with a target to build two lakh homes across the country by 2022. The initiative, the Group claimed, was in line with the Government’s vision of ‘Housing for All by 2022.’ Going digital is the mantra now for the real estate players in the country, says Ram Jalan, VP – Digital Marketing in Wave Infratech. Digital platform is going to be the primary platform for lead generation for realty companies. Even the buyers will do the initial survey online, but, he says the final decision remains on the basis of personal interaction and relationship.

Like in any other sector, localisation is the success mantra for real estate products as well, says Shajai Jacob of JLL. In his write-up, he cites interesting examples of some of the MNCs, which have adapted this mantra with great success.

In his regular column, Mahagun Director Dhiraj Jain says Sector 150 in Noida is the next hot destination in the town to invest. And why is so? -Jain reasons out. Apart from this are your regular reads – home loan rates of various lenders, new residential launches in top cities, property rates of key localities in key cities, our Vastu expert this time stresses the importance of Vastu on one’s overall development, and lastly your monthly horoscope by bejan daruwalla. Enjoy reading!!!

R&M Property Awards 2015-16

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