RERA Impact: The effect of RERA, the condition of the housing project has improved, the work of so many projects has been completed in 5 years.

The central government has made several reforms during the last few years in the real estate sector, especially in the housing category, to remove timely completion of projects and other irregularities. RERA law is the biggest among the reforms done in the real estate sector. A recent report suggests that the RERA law has been largely successful in achieving its objectives and has brought down delays in housing projects.

So many housing projects are ready

According to a recent report by real estate consultancy firm Anarock, 86 per cent of the housing projects launched after the implementation of the RERA Act have been completed in five years. RERA i.e. Real Estate (Regulation and Development) Act 2016 was implemented from May 1, 2017 after it was passed. The report states that after that, in the second half of 2017 and 2018, at least 86 per cent of the housing projects launched in the country’s top-7 cities have been completed.

Due to disruptions Still on time

According to Anarock’s report, 1,642 RERA-registered residential projects were launched during those one-and-a-half years i.e. the last six months of 2017 and the entire 12 months of 2018. These projects were launched in the top seven cities of the country. Of them, 1,409 housing projects have been completed, despite supply chain disruptions ranging from the Covid pandemic to the outbreak of war in Europe.

Chennai leads the top-7 cities

< p>It has been told in the report that maximum 90 per cent projects have been completed in Chennai. During those one and a half years, 119 projects were launched in the city, of which 107 have been completed. Anarock says that except for large townships, generally a housing project should not take more than 5 years to be ready. The firm said that during 2022, more than 4.02 lakh houses were built in the top-7 cities of the country. This is the highest single-year home completion figure since 2017.

What do experts say on the report

Managing Director, Krisumi Corporation about Anarock’s report Mohit Jain said, surely the regulatory reforms have started the era of changes by establishing transparency and accountability. Reforms have created confidence among investors and home buyers.

While Pradeep Agarwal, Founder and Chairman, Signature Global (India) Limited, said that the RERA law has assured home buyers that their investment will be safe. And they will get their dream home in time.

Also Read: What is Gilt Mutual Fund and how is it a better investment than Bank FD?, Risks, Returns and other features

Dividend Portal: Not able to claim dividend or share? Now this portal is getting ready, stuck money will be available in a jiffy

A good initiative is going to start soon for stock market investors. The government is preparing to launch a portal ...
Read More

BEML Recruitment 2023 Apply For Various Posts At Salary 85000

BEML Jobs 2023: Bharat Earth Movers Limited (BEML) has released a recruitment notification according to which recruitment will be done ...
Read More

Health Tips Morning Cough, Possible Causes and Treatment, Know More Details Marathi News

health tips: We have seen many people around us in the family who cough a lot in the morning. And ...
Read More

India’s Palak won gold and Isha Singh won silver in Asian Games 2023 10m air pistol event.

Asian Games 2023 Day 6 India: India's excellent performance in shooting continues. Palak won gold and Isha Singh won silver ...
Read More

GATE 2024 Registration Last Date Today 29 September Then Apply Till 13 October With Late Fees

GATE 2024 Registration Last Date: Indian Institute of Science, Bangalore will close the registration link for GATE Exam 2024 today ...
Read More

Share Market Opening On 29 September BSE Sensex And NSE Nifty Starts On Good Note

Share Market Opening on 29 September: The domestic stock market started trading properly on the last day of the week ...
Read More

Asian Games 2023 Indian tennis men’s doubles pair Ramkumar Ramanathan and Saketh Myneni lose the final and settle for silver medal

Asian Games 2023 Day 6, India: The Indian pair of Ramkumar Ramanathan and Saketh Myneni have won silver in the ...
Read More

4G And 5G Networks Will Work Smoothly Now TRAI Seeks Ideas To Improve In-building Mobile Coverage

Mobile Network : 4G and 5G network has been revealed in the country, yet many times while talking on mobile, ...
Read More

Insurance Companies: These 6 insurance companies received notices worth Rs 3 thousand crores, investigation is going on for GST evasion

Many big insurance companies of the country have come under the ambit of an ongoing investigation regarding tax evasion. The ...
Read More

IDBI Bank Recruitment 2023 For 600 Junior Assistant Manager Posts Registration Last Date Tomorrow 30 Sep

IDBI Bank Recruitment 2023 Registration Last Date: If you are looking for a job in a bank, then you can ...
Read More

Leave a Comment