Swapnil India Infratech Ltd

Because of a slowdown in sales, the rising cost of construction and labour, the developers have been hit hard. The burden of the borrowings taken at high interest rates have further eaten into their profitability or have been passed on to the homebuyers. As the Union Budget will be presented on February 1, the real estate stakeholders are now putting forth their wishlist, hoping for some concessions and an industry status.

The year 2017 has been a roller-coaster ride for all the stakeholders of the real estate sector. After the Narendra Modi-led government announced demonetisation in November 2016, the industry was trying to recover from the setback it caused. However, introduction of new laws such as the Real Estate (Regulation & Development) Act, 2016, and the Goods and Services Tax further slowed the pace of property sales across the country. Even cheaper home loans did not encourage homebuyers to invest. However, in the end, all the newly introduced reforms did discipline the players in the sector with stringent rules and penalties for violations. Industry experts believe that 2018 would be a year that will witness sales picking up.

Is your developer heading towards bankruptcy? Here's how you can ensure that your claim to property is not affected even in dire circumstances.

The provisions made for brokers would help the business to become organised and procedures channelised.

Wave Infratech was established as the real estate arm of the Wave Group.It is building outstanding integrated townships which include Wave City, Wave City Center, Wave Estate and Wave Royal Castle in addition to its ground breaking commercial projects such as Wave One, Wave 1st Silver Tower and Wave HUBB. Makaan IQ team got an opportunity to have conversation with Mr Rajiv Gupta, who serves as the Chief Executive Officer of WAVE Infratech Private Limited.