Real Estate Regulatory Authority (RERA) is expected to augment the foreign inflow capital in the Indian realty sector. The Indian realty sector has long been one of the most messed up sectors in India. Buyers have often exhausted due to the manipulated operations of developers. But with RERA India, it is expected real estate will soon be synonymous to transparency.
The RERA 2016 Act addresses all the grievances of buyers and lay a special emphasis on timely delivery of various residential and commercial projects. The rules and regulations of RERA 2016 Act has given consumers a chance to differentiate between the registered and non-registered developers and real estate agents. It will be back on radar with better clarity and strict penalties for people who fail to comply with the provisions of RERA India.
The RERA 2016 Act addresses all the grievances of buyers and lay a special emphasis on timely delivery of various residential and commercial projects. The rules and regulations of RERA 2016 Act has given consumers a chance to differentiate between the registered and non-registered developers and real estate agents. It will be back on radar with better clarity and strict penalties for people who fail to comply with the provisions of RERA India.
The Modi government has been a pioneer in the growth of residential and commercial properties and has increased the curiosity among international investors and occupiers. Reputed investors like Brook field, JP Morgan and Blackstone have a strong presence in India and are investing huge sums. The growth of housing projects in India has been slow but of five leasing is increasing at a fast pace. Among all the Asia Pacific markets, Bengaluru emerged as the strongest player in terms of office space leasing. The growth has been witnessed due to the increasing demand from IT, BPO, banking, insurance, pharma and automotive segments.
The real estate investment trusts (REITs) regulations have changed significantly and now with RERA India, the inflow of foreign capital and growth will further propel.
