The year 2016 was a year of landmark reforms for India's real estate sector; ranging from the formation of a strong regulator to the easing of foreign investor norms. The year also witnessed a major thrust on affordable housing and a strong revision to the Real Estate Investment Trust (REIT) guidelines. The passage of the Real Estate Regulation Act (RERA) in early 2016 and an expected implementation of the Goods and Services Tax (GST) by mid-2017 are other landmark reforms that will shape the future of India's real estate footprint. This report aims at addressing the impact of these reforms on India's RE sector.