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ET Housing Finance Summit
November 20, 2017
Being the second largest populated country in the world, India has mammoth housing and realty opportunities. However, the major challenge is provision of housing to the masses which is a lurking reality since the last few decades. The government is trying to amend this situation by announcing favourable schemes under affordable housing like PMAY & Housing for all by 2022. Concurrently, Finance Minister Mr. Arun Jaitley has been laying special emphasis on providing housing for urban and rural India and processing necessary amendments since the last 2 budgets.
However, despite positive disruptions like demonetisation & RERA since the last year, the Housing Finance industry still needs to undergo an evolution of growth in order to be future ready.
THE BIG MOVE – HOUSING MADE AFFORDABLE, RERA
The recent demonetization & RERA have turned out to be complete game changers for the real estate sector along with the boost & transparency in our economy. Simultaneously, interest rates have also been reduced considerably, thus making home loans affordable which is a clear sign of revival for the housing sector. With the introduction of GST, the realty sector too will benefit in the long run while nurturing buyer confidence & safeguarding their interest, thus, liberating homebuyers and investors from the hassle of paying several state taxes at different levels, therefore eradicating the double taxation impact.
THE ECONOMIC TIMES HOUSING FINANCE SUMMIT 2017 – 2ND EDITION
The 1st edition of the summit experienced the entire ecosystem of regulators, developers & banks coming together to push the government’s objective of “Housing for All” and discussed upon varied features of providing affordable housing to the masses. This year as the housing finance market relies on the crucial moves of infrastructure status to the affordable housing segment and Real Estate Regulation and Development Act, 2016 (RERA), The Economic Times endeavours to uncover the pangs of growth during this transitory phase of Housing Finance & how does the fraternity gear up to manage the dip demand during this interesting phase of our Economic development which will eventually phase out & be in a better situation in the coming year.