Reaction to RERA implementation on Real estate segment

"After the recent implementation of the Real Estate Regulatory Act (RERA), the buzz phrase everywhere is about the “power shifting to the buyers” and how “developers are now more accountable” due to the mandatory registration process. Developers are also liable for any structural defects in the building for 5 years.

In the midst of the regulatory overhaul, it is imperative for developers to connect with partners that are able to consistently deliver high quality products and services on time and on budget. This will keep the overall project under control, and developers will avoid hefty fines.

As a real estate consultant, we are in prime position to assist developers navigate through this challenge. By working with thousands of world-class suppliers of various products and services from all over the world, we can connect developers with the optimum supplier at the optimum stage of the project.

This connection is made only after meticulous vetting the supplier’s track record in the Indian real estate market. Through this process, developers have the leverage to deploy quality products at any stage. The end result is an enhanced experience for the home buyer, which is precisely the intent of the RERA."
Mr. Ganesh Babu, Director, IDE Consulting Service.