IndiaLaw LLP

India has jumped 14 places to rank 63rd out of 190 countries in the World Bank's Doing Business 2020 report on account of significant improvement in resolving insolvency and obtaining construction permits. This is a major development, considering the fact that the government has been focusing on targeting to take India among the top 50 in the ease of doing business ranking. Explaining that the government was working on policies to promote inflows from domestic as well as foreign sources to achieve this vision, the PM stressed that the "policies are not designed to get some short-term benefit out of transient disruptions" being seen around the world. Instead, the government is focused on improving India's competitiveness through long-term reform measures such as steps towards improving the ease of doing business rankings, tax reforms with lowering of tax rates and simplifying procedures, labor sector reforms to encourage formalization and FD

The real estate industry has been one of the most prominent pillars of the Indian economy. With a contribution of close to 6-8% to India’s Gross Domestic Product (GDP), it stands second in terms of employment generation. The sector has been at the cusp of transformation with policy changes, fall-out of funding agencies and their subsequent cautiousness towards residential projects, developers experimenting with new sectors and offerings, etc.  According to data released by the India Brand Equity Foundation, which is a government trust, by 2025, the country’s real estate sector is expected to contribute 13 per cent of the country’s GDP. By 2030, it is expected to reach US$ 1 trillion. Without relying on any more numbers, it would suffice to say that lawyers feed off such a healthy industry and a lavish five-course meal sort of feed off, at that. As regards the changes brought in by the Real Estate Regulation Act, the long-term prospects of these changes