all those initial hiccups and brickbats from the realty sector, RERA seems to
have come a long way and the good news is, it’s seems to have settle down in
the realty industry.
Ranjan Mishra, Joint Secretary, Ministry of Housing and Urban Affairs, clearly
stated that developers need to register their ongoing projects with a Real
Estate Regulatory Authority (RERA) and stop seeking exemptions.
demanded that builders change their business model to manage cash flow
efficiently as required under the Real Estate (Regulation and Development) Act,
which was passed by Parliament in March 2016 and was enforced from May this
not mince words while voicing concerns over anxieties among buyers while buying
a home due to uncertainties as they were still not sure regarding the delivery
of projects. He asked builders to strictly
abide by this law as this would inspire confidence in them.
Mr Anshuman Magazine, Chairman, CII Realty 2017 & Chairman –
India & South East Asia, CBRE affirmed that this is a very interesting time
for India’s real estate sector as there has been an unprecedented activity in
boosting the segment. “Various government reforms like demonetization, RERA and
GST are impacting the overall sector”. He also stated that we will witness
further traction towards infrastructure in near future. This will boost growth and create more
opportunities for the sector. He predicted that this would lead to an increase
in medium to long term investment.
last, RERA has evolved from rant to rave!