Businesses in Real estate sector involved in a commercial asset or residential asset class has been plagued with a number of issues/challenges such as demand-supply mismatch across segments, project delays, and liquidity issues. Such delays have been acting as a pain point for property buyers for ages now. Can it be blamed solely on the real estate builder? I don’t think so, there has been a number of cases where these developers have found themselves in legal compliance, Additionally, the real estate sector has limited access to long-term funding, taxation and fees structures are either complicated or irrational, leading to higher project cost impacting the end user/buyer. RERA Act stands for Real Estate (Regulation and Development) Act aims at establishing a Real Estate Regulatory Authority for regulating the real estate which was not regulated till now. The Union Government has undertaken several policy initiatives to improve transparency and accountability and improve liquidity in the sector. Key points that you should be aware of are:
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