Real estate is a pivotal sector in the Indian economy, and is reported to be the second highest employment generator, after agriculture. The combination of its multitude of stakeholders, and its affiliations with various other sectors such as infrastructure creates a multiplier effect on its impact on the economy.
Historically, real estate has been one of the most carefully protected sectors, fortified by heavy regulations and policies which significantly restricted foreign investment. This protection was intended to prevent speculation in the sector, and even today speculative real estate business is prohibited under the foreign direct investment regime. Fortunately, over the last decade and a half, the government has strategically taken steps to relax the Foreign Direct Investment (FDI) norms, gradually allowing for more investment and growth.
Please click here to read the full article by Vivek K. Chandy, published in ET Insights.
Vivek assumed office as the Joint Managing Partner of the Firm from January 2019. He has over 30 years of experience in areas of private equity, mergers and acquisitions, corporate commercial work and real estate advisory in India.