It is an opportune time indeed, for the industry bodies to get together and discuss the prevailing uncertainties in the realty sector, more so luxury realty. The North India Sotheby’s International Realty held the first ever Global Luxury Realty Conclave 2017 in association with Confederation of Indian Industry (CII) on 25th February at the Taj Palace Hotel, New Delhi. The two day event brought together the leading players in the Luxury Real Estate industry, to discuss the issues prevailing in the scenario of fluctuating market dynamics and unpredictable global situations. Royal Institution of Chartered Surveyors (RICS) and Price water house Coopers (PwC) were the event partners.The conclave provided an International networking platform comprising of real estate industry experts, select international & domestic developers, tax advisories, HNIs, creative leaders, as well as luxury observers and innovators.
Amitabh Kant, CEO, NITI Aayog inaugurated the event. Speaking about the impact of demonetisation on the economy and the real estate industry, he said that it would lead to lowering of fiscal deficit, and the eventual fall out would reap benefits of demographic transition, He elaborated that the government’s focus in the coming years will be hugely on infrastructure and show that India is able to create world class infrastructure. And this would drive urbanisation and very high luxury homes in the future.
The five sessions on Day 1 covered topics pertaining to global real estate market overview, buying behaviours of global Indians, the impact of policy changes on the real estate sector, and the recent developments impacting domestic and international real estate. The last session on global trends in vacation and second homes had on its panel Sethu Vaidyanathan of Park Group, Uttam Dave, ceo of Amoravida, Tarun Mehrotra of Tata Housing and Marco Bonini, Director Soneva Private residences, Maldives. Tarun Tahiliani moderated the session.
Chandrajit Banerjee, Director General, Confederation of Indian Industry said, “CII has collaborated with North India Sotheby’s International Realty to take an initiative to highlight the fast paced changes in global real estate industry which is one of the most imperative sectors of the economy.” Speaking on the occasion, Amit Goyal, CEO, North India Sotheby’s International Realty said, “We are delighted to host the first ever Global Luxury Realty Conclave 2017 in partnership with CII along with PwC & RICS as knowledge partners.”
Jamie McMullan, International Servicing Director EMEA Region, Sotheby’s International Realty said, “The Conclave is a great platform to leverage the Sotheby’s International Realty brand’s global presence and reach out to the wide Indian diaspora spread across the world. I am pleased to be a part of this wonderful opportunity wherein our brand is recognized as a benchmark of global perfection”