ACAE Chartered Accountant’s Study Circle-EIRC in association with CREDAI Bengal organized “Challenges in Changing Times” a Real Estate Conclave” earlier this month.

The Conclave delved on current industry regulations and trends in the state now.

Speaking on the occasion, Mr Nandu Belani, President, CREDAI Bengal said, “It’s been an action-packed year for the real estate sector. The year 2017, started on a slow note, with the sector still reeling under the shock of demonetisation – a policy measure announced by the Government in November, 2016. Since then the country has witnessed a lot of ups and downs and so has the Indian real estate sector. With too many things happening in 2018, we sincerely look forward to a much fruitful and productive year. There have been some very important policy announcements in 2017 which had its positive-negative effects on the country’s economy. “Housing for All by 2022”, Announcement of RERA, Introduction of GST in July 2017 aimed to dismantle multiple tax system and the need for Single Window Clearance. In 2018, the primary focus of the developers will be mainly on selling and completing the existing projects within the stipulated deadline. Hence, the year will witness major sales and delivery in the residential market, thanks to the guidelines laid down by RERA and the subsequent notification of WBHIRA Rules shortly in West Bengal”