How Rera Changed The Real Estate Landscape?

RERA Introduction

RERA And How It Changed The Real Estate Sector

RERA – How It Protects Investors And Helps Development Of The Real Estate Industry ? By DB Mehta

Frequently Asked Questions

How has RERA affected property?

RERA has helped steer the real estate sector, which was once famous for lack of transparency, in the right direction. It has, over the years, pulled down the pace of new project launches and coaxed the developers to deliver the on-hold projects.

What is RERA and how will it impact the real estate industry and home buyers?

RERA stands for Real Estate (Regulation and Development) Act, passed by the central government on 10th March 2016 to address the various grievances of property buyers. The objective of the Act is to protect homebuyers from unscrupulous builders and channel investments in the real estate industry.

Is RERA a game changer for Indian real estate development?

So, is RERA a game changer in the real estate market? The answer is, of course. RERA not only establishes the rules of the game for all but also appoints a referee to flag and penalise the errant players.

What are the major benefits of RERA Act for home buyers?

10 Major Benefits of RERA Act for Home Buyers

  • Standardized Carpet Area : ...
  • Right to Information About the Property : ...
  • Builders Won't Be Able to Delay the Projects : ...
  • Builders Will Be Held Responsible for Any Defect or Fault in The Construction : ...
  • Grievances Will Be Addressed and will Solved Quickly : ...
  • Advance Payments :

Is the Real Estate Act a good thing?

Although the implementation of the real estate Act is a right step in regulating and developing the industry, some of the penal provisions, however, are likely to create an excessive fear in the minds of the developer community.

How big are real estate projects in India?

According to ICRA’s research, there has been a marked improvement in project completions. Based on ICRA’s sample set, of the 11 listed real estate developers who have projects across India, project completions increased from 30.02 million sq-ft in FY2015 to 42.94 million sq-ft in FY2016, and further to 45.51 million sq-ft in FY2017.

How many states and UTs have notified Rera?

Apart from poor demand, issues relating to registration under the RERA are also attributable to the delay in launches. Close to 25 states/UTs have notified the RERA with around 20 of them having an interim or final RERA authority. A slower-than-expected implementation has impacted the launch pipeline in some of the cases.

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