Residential prices to rise post RERA
NEWDELHI: RERA has been implemented with the purpose of enhancing transparency, mitigating information asymmetry and applying a uniform ‘code of conduct’ for developers across various states. It seeks to reduce the volatility seen in the real estate sector in the past, and eliminate the trust deficit between the two primary industry stakeholders – builders and buyers. However, residential prices are likely to rise in the post-RERAworld. Herearesome reasons: tives for affordable housing and the easy availability of home loans, we expect end-user driven demand to pick up.
With a pulling-back of supply andacontinuousrobust demand from end-users, the residential market will soon witness a marginal uptrend in residential prices.
RERA WILL PLAY A FUNDAMENTAL ROLE IN DETERMINING THE ECONOMIC FRAMEWORK OF DEMAND AND SUPPLY IN REAL ESTATE SECTOR
Buyers are expected to benefit from the new real estate act