The School held its first public interaction - a Dialogue on the theme ‘GST, demonetization and the built environment industry’ in collaboration with NIUA and India International Centre, on 16 November at the India International Centre Annex, New Delhi.
In the last one year, Indian economy has seen massive structural changes that have affected real estate and construction industry. It is common knowledge that the construction industry has been a cash-intensive industry at all levels of transactions from labor payment to land purchase.
Demonetization and GST had significant impact on pre-construction transactions, construction activities, material markets, as well as post construction marketing and facility management, etc. However, expert opinion varies on the long term impact of these structural changes, while the immediate impact is there for all to see.
While the GST framework is also actively under review by the Government, it has left the industry in uncertain territory. Questions like how GST will play itself out for the multiple stakeholders in the construction industry, what will be its impact on the final consumer price of built units, what is the immediate and future course of action open to built environment professionals, etc lie in front of the industry.
In order to answer these questions, the RICS SBE and NIUA organized an Expert Lecture and Panel Discussion on the 16th of November at the India International Centre Annex. The programme was co-sponsored by the India International Centre and the NIUA.
The program details with names of the dignitaries are mentioned below:
Presentation on Demonetisation and its impact on parallel economy, real estate and construction sector
Dr. Arun Kumar, Malcolm S. Adiseshiah, Chair Professor- Institute of Social Sciences
Panel discussion on GST, Demonetisation and the Built Environment Industry
Prof. Sunil Agarwal, Associate Dean and Director, School of Real Estate- RICS SBE (in chair)
Prof. Jagan Shah, Director – National Institute of Urban Affairs
Mr. Gaurav Gupta, Director - SG Estates
Mr. Prashant Agarwal, Partner PWC
Mr. Arun Gupta, Partner SARC Associates
For details about the happenings, see event summary.