no Modi government, the revival may take as long as 2017. It’s largely an investor market currently, more so in the National Capital Region. In fact, even NCR doesn’t offer products for end-users who have a fixed budget,” added Agarwal.
Among the structural reforms, while the proposal to relax the foreign direct investment regime in the construction sector is yet to fructify, the Real Estate Investment Trust Regulation (REIT), 2013, and Real Estate (Regulation and Development) Bill, are still a far cry. Their implementation would decide the course of the sector in the long-run.