The Indian government has been introducing various policies in the recent few quarters. Modi Builders Review that a proper mechanism is necessary to address the issues of the real estate sector of India.
The rapid urbanization has been leading to the growth in India’s real estate sector. The sector is the second largest employer in the country, after agriculture. However, several unreliable developers also exist in the market. Most of them miss the mark in timely deliveries of their projects. Moreover, they have been overcharging the buyers and exploiting them.
The Modi government has been taking keen initiatives to change the scenario of the Indian realty market. They have implemented various major policies, with an aim of creating transparency in the real estate. The Real Estate Regulatory Act (RERA), Benami Transactions Act and Real Estate Investment Trusts (REITs) are some major policies that brought a visible change in the sector.
Modi Builders has reviewed that the steps taken by the government are of value to both the investors and the developers. It believes that the new acts will create a market for the consumers and will knock out the inappropriate constructors. Modi Builders Group is a leading construction company of Hyderabad. It is serving quality and honesty to their consumers since establishment.
The new regulations are designed to promote timely completion of projects and to maintain the steadiness, by regulating the sale in real estate sector. According to Modi Builders Group, these regulations are likely to create affordable housing for the buyers. It is anticipating that the middle-class will be able to buy houses at reasonable prices.
Goods and Service Tax (GST), and Demonetization have been other major regulations that impacted the home buyers, builders and property agents. The Indian government has been putting the efforts to enhance transparency and bring greater accountability in the realty sector.
The Hyderabad-based realtors expect that the new regulations will bring a positive change.