India Under Spotlight at 2017 World Real Estate Forum

Anticipated to be the fastest growing economy on a global level, India would be the special focus at 2017 World Real Estate Forum. The two-day event will be held on May 18 and 19 in Massachusetts. Indian panel will discuss various growth prospects, considering the future of the real estate market in the country.

After a temporary economic slowdown caused by demonetization, India is eager to usher in the era of residential properties is anticipated to witness a noteworthy surge in the coming years. Deemed to be one of the world’s fastest growing economy in 2017, India is expected to garner the center of focus in this year’s World Real Estate Forum, which will be organized by MIT Center for Real Estate on the MIT campus in Cambridge. "Even after the currency in circulation is replenished, we expect India's economic growth will stabilise with a lag while remaining strong," said Aditi Nayar, an ICRA Principal Economist.

significant growth in the country. Especially, the aspect of

"The adjustment and recovery period could stretch to as much as 2-3 quarters for certain sectors," Nayar added.

The upcoming World Real Estate Forum will be hosted by MIT Center for Real Estate on May 18 and 19 in Massachusetts. The panelists will make their presence felt at the event representing their respective countries such as Argentina, Australia, Brazil, Canada, Great Britain, Hong Kong, Mexico and India. Moreover, global experts will deliberate over a wide range of topics that will be instrumental in determining and restructuring the real estate industry that includes city prospects, innovation, cross-border capital, growth markets and development breakthroughs.

The range of capital expenditure estimated by the central and state governments will impact the extent to which infrastructure spending can stimulate development in the safest way possible for the fiscal year ending on March 31, 2018. Additionally, the institutional framework of the Real Estate Mumbai awaits a major transformation as well as acceleration.

"Nevertheless, economic and institutional reforms already introduced and potentially forthcoming, continue to offer a reasonable expectation that India's growth will outperform that of its similarly rated peers over the medium term, and that the country will achieve further improvements in its macroeconomic and institutional profile," said William Foster, a Moody's Vice President and Senior Credit Officer.

“The announcement of affordable housing being given Infrastructure status is a welcome move and will act as a catalyst to meet the objectives of Housing to all by 2022. Credit off-take towards affordable segment of housing will lead to creation of supply especially for both stake holders the first home buyer and developer who will now have access to cheaper funding,” said Ravi Ahuja, Executive Director, Office Services & Investment Sales at Colliers International India.

While contemplating about the Growth Markets and Development Opportunities, it is expected that Indian panelists at the World Real Estate Forum will have a solicitous discussion in respect of the development of the country which would directly influence the future of Indian real estate industry. All this will be discussed considering the opinions of the leading developers in terms of their strategy for the impending growth plans.

“The Forum is a unique and perhaps the only platform which brings together global leaders and academia to discuss current and future issues impacting global real estate and identify potential solutions," said Raja Seetharaman, panelist and Director of Propstack. "I look forward to discussing about the impact of technology, digitization & data transparency in real estate."

Other members who are expected to bring India’s real estate growth plans to the table at WREF include Ajay Prasad, panel moderator and Managing Director- India, Taurus Investment Holdings. Furthermore, Claude Lavigne, Senior Vice President of Investments and Global Markets at Ivanhoé Cambridge; Manoj Menda, Corporate Vice Chairman at RMZ Corp; and Dr. Shashi Tharoor, Member of Parliament for Thiruvananthapuram, and Chairman of the Parliamentary Standing Committee on External Affairs will also participate as Indian panelists at the forum.

The unorganized sector is likely to see a healthier growth in the years ahead, thereby enhancing growth avenues for properties in metro cities of India such as residential apartments in Mumbai to observe the impending change.