If you are planning to buy a home, here's a reason to cheer!
For a long time real estate experts and homebuyers are waiting for much-anticipated RERA to get rolling and if one goes by the report, 1st May is the red letter day for Indian real estate industry.
According to experts, implementation of RERA is likely to bring in much-needed transparency in the real estate industry and with all possibility it will protect the interest of the homebuyer by ensuring timely delivery of projects.
Here are a few ways homebuyers are set to benefit by RERA implementation:
How it benefits developers:
The developers will also benefit from RERA introduction. Just like the buyers also the developers will have the opportunity to approach the regulator in case there is any issue with the buyer. The organized segment of Indian real estate sector is positive about the bill as this will bring transparency and legitimacy for the brands and eventually this will swell up the foreign investment.
The big question remains if RERA will affect the property price or not. Though property prices are not connected to RERA and prices are not expected to see a correction at current scenario but developers will be in a position to pass additional benefits to customers as margins are expected to increase because of lower cost of construction.
Though RERA is a central law, its implementation will depend at state levels, so a lot will depend on how seriously state governments acts to make this anticipated bill successful.Authored by 9amstories.com Editorial
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If you are planning to buy a home, here's a reason to cheer! For a long time real estate experts and homebuyers are waiting for much-anticipated RERA to get rolling and if one goes by the report, 1st May is the red letter day for Indian real estate industry.