Commercial real estate throughout India has suffered a sluggish growth or lack of in recent times. The most recent union budget of 2020-2021 was expected to resolve the lack of growth in real estate sector of India, although some of the issues addressed in this budget come under the housing schemes or more specifically the affordable housing domain of our nation. The major announcements made in the latest union budget point towards better management of the real estate development process and boosting the infrastructure growth of our nation. A considerable lack of focus from the government on the commercial real estate sector in India is a real let-down, even with a steady rise of foreign direct investments and start-ups being established throughout the nation.
Although, the government has been rapidly moving towards the introduction of favourable regulatory schemes such as the implementation of real-estate regulatory authority (RERA) across the major urban cities, which has helped develop a sense of trust amongst the investors helping them achieve more success in moving their built inventories. The government has also put forth the development of real estate projects in partnerships with private organizations, due to the success of public-private partnerships (PPP) in several other real estate projects.
The implementation of these public schemes has somewhat helped stabilise the entire real estate industry in the nation, although the need for capitalizing on specialized policy framework presented by the public authorities can go a long way towards the success of commercial real estate of our nation.
Design Forum International – expertise as crafting designs that are self-expressive which contribute to the work environment of a nation has helped carve out a distinct architectural identity, that is primarily focused on accelerating the growth of real estate sector of our nation.