The 8th Annual Edition Of The Real Estate & Construction Legal Summit 2019
After having completed 6 successful editions, Lex Witness proudly presents The 8th Annual Real Estate & Construction Legal Summit 2019 scheduled to be on 17th May 2019, Le Meridien, New Delhi.
Meet The Might Behind
“The real estate sector is one of the most globally recognised sectors. In India, real estate is the second largest employer after agriculture and is slated to grow at 30 per cent over the next decade. The Indian real estate market is expected to touch US$ 180 billion by 2020. The housing sector alone contributes 5-6 per cent to the country’s Gross Domestic Product (GDP).
In the period FY2008-2020, the market size of this sector is expected to increase at a Compound Annual Growth Rate (CAGR) of 11.2 per cent. Retail, hospitality and commercial real estate are also growing significantly, providing the much-needed infrastructure for India’s growing needs.
Private equity and debt investments in India’s real estate sector grew 12 per cent year-on-year to US$ 4.18 billion across 79 transactions in 2017. The last year has seen USD 3.26 billion worth of M&A deals in India’s real estate sector. India is expected to witness an upward rise in the number of real estate deals in 2018, on the back of policy changes that have made the market more transparent.”
Source – The Indian Brand Equity Foundation, 2018
While the words above set a very encouraging ambience in our minds, one needs to ponder, if the sector has been able to unleash much and digest the new regulatory changes that have come in the last 2 years
Have RERA & GST Become The 2018 Swags For The Indian Real Estate Inc.?
There is no doubt that RERA and GST have been one of the most crucial vehicles of change for the sector, the budget, affordable housing and smart cities have been the signature elements of what will set the trends for times to come. It was slow but indeed an appreciative change that the developers accepted the regulation coming in the form of RERA. Of course, there is mammoth of think tank tasks in progress as they contemplate on their business models that are purely in compliance with the new laws in place. Various state governments have also been rekindling themselves in order to tune into the unified RERA spirit across the nation. While states are currently in a nascent stage wrt registrations etc. going forward, there will be huge chunk of data handling that will need its own expertise.
While on one hand RERA is setting into form, GST has had its own impact on the sector. Of course, the multi-level tax structures have been simplified and there is a change in the tax perception of the sector. However, there are several issues that yet have to be addressed to. Transfer of consumables, multiple registrations, complex compliance for anti-profiteers etc are some of the many challenges that the sector is going through.
Hence, we saw an interesting mix of legal, regulatory and compliance environs that formed a very deliberative discussion theme previous year. With over 30 speakers and 100 attendees, the summit created a new set of take home lessons and strategies to combat the new set of challenges that are in play. The focused keypoints were;
Roaring RERA – Survival of the Fittest?
Funding Fumes – Painting A Good Canvas Ahead?
Regulatory Rhymes – New Wine in An Old Bottle?
Inside the Courtrooms – Is There A Master of Art of Contracting?
Tax Traumas – A Never Ending Storyline?
It is in this context that The 8th Annual Real Estate & Construction Legal Summit 2019 scheduled to be on 17th May 2019, Le Meridien, New Delhi. brings together various stakeholders of the governance and legal machinery of the country to see how best the existing challenges can be tackled with and foster the growth within the sector.
So, Join the Country’s Most Awaited Discussion on The Real Estate Legal & Regulatory Mandates.