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Ramesh Nair, CEO and Country Head, JLL India, has said continuity and stability in governance will bolster the real estate sector.
He said in a press statement that the impact of NDA’s reforms has been reflected in the number of investments received by the real estate sector.
“Of the total institutional investments of $30 bn during 2009-2018, $20 bn was invested in 2014-2018. During the same period, the share of foreign investments more than doubled to 70 per cent in 2018 from 31 per cent in 2009. We are confident that institutional investments in 2019 will nearly double to $10 bn as compared to 2018,” said Nair.
He added that the real estate sector now has high hopes from the new government. “We expect the government to uniformly implement RERA regulations across the states to improve buyers’ confidence. It should also create a single window clearance mechanism at the national level for easy approvals. The Government should also work to release public land holding for the creation of additional affordable and mid-income housing. The need of the hour is also to significantly lower interest rates, thereby, improving affordability, liquidity and boosting housing demand,” said Nair.
He added that in the backdrop of robust policy measures implemented over the last five years, the industry expects the growth momentum in the real estate sector to continue. The continuity of reforms for the next five years is sure to auger well for the economy and real estate sector.
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