Since the RERA has approached, the experts are seen busy knowing the ins and outs of this regulatory act. It’s mandatory for all the states to inculcate this act as per the government orders. Most of the states have initiated and are busy showcasing their RERA certified projects. However, there are states that are yet to come up with any statement regarding this amendment. Thus, the government has now directly asked all the states to establish RERA in their guidelines. The central government is persuading the state authorities to implement the Real Estate Regulatory Act which is said to turn the corner for the whole of the real estate climate. Without a regulatory act like RERA, the real estate segment is null and void which makes the investors hesitate while coming forward for new investments. The RERA will not allow the unregistered projects to woo the buyers by coming up with convincing advertisements.
“We have recently announced our plan to construct RERA certified projects and hoping to see a positive response from more and more investors and home buyers. We believe that the other developers should also initiate and take a step in line with the RERA as it will benefit them in long run. RERA is being known and promoted as the most credible regulator so it’s a mandate that no developer and state government should ignore. We need to understand it’s more important to bring back the accountability sand trust for this sector and regulations like such would help in achieving the same motive” says Pradeep Aggarwal, Chairman, Signature Global.
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