[Resolved] Realestateindia.com — rera completed 2 years | |||
One of the biggest, and arguably the most called for, reforms in the real estate industry in india was the implementation of rera nearly 2 years ago. While the debate had been on for nearly a decade on regulating the highly opaque industry, the challenges of bringing it within the ambit of regulation were multi-fold. Let alone the reluctance on part of the key players, the overall machinery to manage the process was fraught with numerous challenges. Is it true that the real estate industry is more organized now? Home buyers has got more confidence in buying a property. Was this information helpful? | |||
Jun 16, 2019 Complaint marked as Resolved RealEstateIndia.com customer support has been notified about the posted complaint. Verified Support May 16, 2019 RealEstateIndia.com Customer Care's response Hello, It look like you have query related our services for that you can directly mail at [protected]@realestateindia.com so that we can help you to solve your every query. Thanks, RealEstateIndia Support Team | |||
 10 Comments | |||
Comments
The supply side has clearly begun learning the dynamics of this 'changed' environment, and has been redrawing its business models.
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Developers now have more accountability and cannot get away with breaking RERA norms. In several instances, developers have been reprimanded by the concerned authorities and have had to pay penalties to homebuyers.
Project and real estate agent registrations have been on the rise across most states since November 2018.
Homebuyers face major issues due to lack of confidence, hence execution of RERA orders by real estate developers and setting up of forums to address complaints need to be initiated.
Things are changing for the better. Generally, players are more accountable and cannot get away with breaking the RERA rules.
In the years pre-dating RERA, customer grievances were addressed in the courts, for which buyers were usually neither capable nor had the sustenance for long-drawn cases. RERA has definitely eased life for them.
The greatest protection for demand side comes in the form of much higher transparency and an assurance on proper deployment of funds by builders.
RERA has given more confidence to the buyers in terms of investment in a property. Now they have more transparency about the projects.
RERA has made the industry more organized.
Consumer faith is important for any industry and it has increased in the real estate after the implementation of RERA.
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