Vidip Jatia, Director, Belmac
RERA is a much awaited regulatory authority which will formalise the largest employing industry in the country. It will increase customer confidence and reinstall customer confidence in the industry. It will make real estate just like any other asset class for investors. Focus will shift from project launches to project completion.
Developers will have financial discipline and launch projects only once all approvals are in place. Well disciplined developers will benefit the most as the unorganized sector will perish and the supply of approved projects will be restricted.
Customers will benefit as they will have only authorized projects to choose from however, due to the restricted supply of inventory and increased compliance costs, the property prices will see an upward pressure!
We are in for good times