The Indian real estate and construction has entered a revitalisation mode with the implementation of landmark reforms such as RERA, GST, Insolvency and Bankruptcy Code, adoption of REITs, Ind AS115, etc., that have pushed the industry towards a healthier ecosystem.
The Indian real estate and construction sector has witnessed both disruption as well as optimism with a slews of reforms being implemented. Rapidly evolving technology is redefining how real-estate business is conducted and managed in India. The report also briefly touches on how we are gradually heading to a tech-driven sector with the government actively promoting digitisation and enabling ICT based infrastructure solutions through initiatives like ‘Smart City’ and ‘IndiaChain’. Real estate operators are progressively exploring opportunities to harness this ’big data’ and develop building automation and resource management systems for commercial and private spaces to maximise comfort, environmental quality and sustainability. Despite all this, there is a strong need for public-private-partnerships and private ventures for improving efficiencies in the real estate ecosystem.
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