Mumbai: Share of fresh housing supply from non-branded and local builders has declined significantly as the real estate sector moves into a major consolidation phase following regulatory changes and demonetisation three years ago. By the end of 2016, share of new launches by non-branded players accounted for 58% of the total 2,49,840 units launched during the year. As a result, the overall share of new launches by branded players kept increasing" said Anuj Puri, chairman, Anarock Property Consultants. While the government launched demonetisation in November 2016 to crack down on black money in the country, Real Estate Regulatory (and Development) Act (RERA) came into force in May 2017. In 2017, of the total 1,46,860 units launched during the year, new launches by non-branded players accounted for 48%.

Source: Mint July 17, 2019 04:30 UTC