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LATEST REPORT ON RERA ACT :- Is RERA is proving to be really effective?

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raju thakran
LATEST REPORT ON RERA ACT :- Is RERA is proving to be really effective?

In India, real-estate sector is highly unorganized even the status of industry is not been given to this sector.

Nowit’s almost going to be 2 years of RERA, so here is report on RERA since its applicability.

Most of the states have notified RERA Act:-

It’s now 2nd year that in India, RERA is notified , almost 24states has notified the RERA(in India there are total 29states and 7union territories), however RERA is not applicable to the state of Jammu and Kashmir therefore effectively 28states comes into the ambit of RERA, 4 north-eastern states has not yet enforce the RERA because of the land issues that the many lands in these states belongs to the tribal communities whereas all the 7 union territories has applied the notified the RERA.

Working Capital Needs of Developers Increased leads to project launches slow down:-

Under, RERA the developers working capital needs are increased because of which decreased project launches are seen, only those developers are seems to be active who are having enough funds and have commitment to complete the construction within the given timelines.

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