SITUATIONAL ANALYSIS OF REAL ESTATE SECTOR IN INDIA, 2017 IN REGARD WITH BENAMI PROHBTION ACT, 2016, DEMONITIZATION AND GOODS AND SERVICE TAX, 2017
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Abstract
The term ‘real estate’ is defined as land, including the air above it and the ground below it, and any buildings or structures on it. It is also referred to as realty. It covers residential housing, commercial offices, trading spaces such as theatres, hotels and restaurants, retail outlets, industrial buildings such as factories and government buildings. Real estate involves the purchase, sale, and development of land, residential and non-residential buildings. The main players in the real estate market are the landlords, developers, builders, real estate agents, tenants, buyers etc. The activities of the real estate sector encompass the housing and construction sectors also.”1 Real Estate is one of the most major sectors in the world and it lays down the foundation of growth and development in a country. While on one hand it is responsible for catering to the needs of individuals by providing infrastructure to various business and corporate giants; assuring adequate housing for the developing population and; by improving the quality of life by constructing various leisure centers.
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