Traditionally, India has had a bank dominated financial sector. Even so, there have always been Non-Banking Financial Companies (NBFC) to provide finance to mainly unorganized markets. NBFC have continued to complement banks in providing infrastructure finance.
The announcement of demonetization and implementation of the Benami Properties Act for unregulated properties took place in the same year. Economists predicted the growth rate of the real estate sector to slow down more than ever as a result.
The Real Estate Regulation and Development Act (RERA) 2016 is a revolutionary Act in the history of the Indian real estate sector. It was introduced first in the year 2013, but due to objections raised in the parliament, it came into effect only in May 2016.
For the past few years, there has been an air of pessimism in the market about the real estate sector. There are various reasons which has affected the growth of the sector negatively. The recent announcement of the Real Estate Regulator Bill which was passed by the Indian Parliament in March 2016 has ushered a new era in the Indian property mar
The Indian real estate sector is the second largest employer after agriculture in India. The strength of the Indian real estate market can be attested from the fact that it is expected to touch US $180 billion by 2020 (IBEF, 2015).