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Real estate 2020: Footprint for the future

If 2016 was a year of announcement of legislative reforms, 2017 has been the year of implementation. In the last few months, the real estate sector has seen two major reforms come into force – the Real Estate Regulatory Authority (RERA) and the Goods and Services Tax (GST). The journey of moving towards a single tax system has not been particularly smooth. Issues regarding its structure, tax bracket and subventions for states that may face revenue losses, surfaced. While a landmark tax such as the GST is expected to have far-reaching implications for sectors across the economy, its impact on real estate as a whole is likely to be a mixed bag.

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