Policies and Laws affected Indian Real estate in 2017

1
An Interesting Year for Indian Real Estate

• An Overview of Laws and Policies that Affected
  Indian Real Estate in 2017
• -By Real Estate Lallabi

2
Benami Properties act

• Amendment of the previous act which came in to
  force on November 1st 2017
• It redefines the Benami Transactions of the
  original Act
• IT department has then started multiple raids and
  Confisticated Benami properties.
• Nearly 1,800 crore worth of Bank Accounts have
  been confisticated so far.

3
Demonetization impact

• The Surprise ban on the 500 and 1,000 rupees
  notes on November 7th 2016
• Despite being enforced in the year 2016 the
  effects were largely seen in the year 2017
• Real Estate was one of the sectors which was
  expected to take a big hit.
• Sales in the overly dependent Real Estate
  transaction slowed down.

4
RERA or Real Estate Regulatory Act

• The most awaited bill in Real Estate sector for
  property buyers.
• Aims at protecting the Buyers interests and on
  time delivery of the project.
• New Projects have decreased significantly
  compared to previous years.
• But the most welcoming move by the home buyers.

Source - An interesting 2017 for Indian Real
Estate
5
Affects of GST

• Multiple Taxes on Goods and Services were merged
  in to one as GST(Goods and Services Tax)
• The different forms of taxes which Real Estate
  sector faced - VAT, ST, Excise and Stamp duty.
• GST became an effective replacement to multiple
  taxes.
• Experts believe, since GST will improve GDP, the
  Real Estate sector indirectly benefits from it.

6
Source

1. http//blog.lallabi.com/articles/125/An-interestin
   g-2017-for-Indian-Real-Estate
2. http//blog.lallabi.com/articles/32/The-Impact-of-
   GST-on-Real-Estate-Sector---GST-Impact-on-Property
   -Prices
3. https//realestate.lallabi.com/