Feb 22, 2018 - Wipro to set up Rs 220-cr manufacturing unit in Telangana

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Sree Vijaykumar

From the Editor's Desk

Real Estate sector to see large scale consolidation of Tier II & III developers
The Indian real estate sector, emerging from a prolonged slowdown following the landmark policy initiatives - RERA, GST & Demonetization - is likely to see a large scale consolidation of the tier II and tier III developers in 2018, edging out small developers stressed with unsold inventories and unpaid debt. Year 2017, saw demonetization, RERA and GST create panic among many of the smaller players. For example RERAD Act 2016 (Real Estate Regulatory and Development Act) alone enforces financial discipline, transparency, accountability, customer centricity and compliance in the sector, earlier unheard of among the unorganised, smaller and dubious developers. Similarly, demonetization hit hard on the trend of black money, especially cash transactions in the sector. Experts believe only a handful of players in the Indian real estate industry will be able to ride the tide in the post-RERA and GST Era leading to large-scale exits and consolidation. More:

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