Transformation Of The Realty Sector

Samantak Das, Chief Economist and Head of Research and REIS, JLL India explains the changing dynamics of the real estate sector, in an interview with Himali Patel  Housing for all by 2022 - how close is India to achieve this target? India has steadily been moving on its plan to achieve ‘Housing for all by 2022.’ However, we believe that the pace of supply of units under the mega scheme is slower than expected and there may be some delay. Under Pradhan Mantri Awas Yojana (PMAY)-Urban, over 93 lakh houses have been sanctioned, of which over 28 lakh have been completed. Additionally, over 1.5 crore rural homes have been completed under PMAY (Gramin). These numbers are impressive, but the pace of construction has to increase if the timeline is to be met. The challenge is private participation. Developers, despite government incentives and sops, have not been able to take up...