Comment on GDP Rates by Mr. Anshuman Magazine, Chairman India & South East Asia CBRE

Mr. Anshuman Magazine, Chairman India & South East Asia CBRE

Mr. Anshuman Magazine, Chairman India & South East Asia CBRE says, “Economic growth for quarter ending March 2017 was weak, but largely on expected lines. The impact of demonetization was felt across various industry sectors during the quarter, particularly real estate and construction. However, economic sentiments have improved or at least stabilized since then, and we feel growth will have an upward momentum in the coming few quarters. More importantly, reforms such as implementation of the Real Estate Regulatory Act (RERA), the Goods and Services Tax (GST) and Real Estate Investment Trusts (REITs), are all steps in the right direction that will not only improve transparency but also bolster investor sentiments. These changes will catalyze ease of doing business in India, while supporting corporate entities entering or expanding their footprint across leading cities in the country.”