A NEW REFORMS TO BOOST REAL ESTATE
The real estate sector is actually one of the crucial pillars of India’s economy and also the government has recognised this, by offering various schemes, including a bailout package, to get the segment out of a slowdown. With the union budget due to be presented, there are several more initiatives that the government can take or provide subsidies, to give a much-needed impetus to the sector.
In the recent judicial reform by the government with relation to facilitating ease of doing business, will actually provide a big boost to real estate investments, particularly to FDI.
In a recent move, the govt. has decided to further link property registration with the National Judicial Data Grid. Simultaneously, the Law Ministry is ramping up the network of really dedicated commercial courts in order to boost the confidence of foreign investors. The main idea is to facilitate ease of doing business. Moreover, India has attained an improved 63rd ranking in World Bank’s Ease of Doing Business Index 2020. It has been made necessary for the commercial courts to do e-filing. Further, to make sure time bound disposal of commercial cases. In addition, the government has even created additional posts of higher judicial services in Delhi High Court.