With the new rules of RERA and GST coming there it is a general perception that it will bring the real estate sector on track. Increase in demand in the sector is expected and the prices will be likely to go down. Post RERA the general view is that the sector is going to be more buyer friendly and large cap real estate.
The recent government policy has generally improved the mood and has increased buyers confidence in the wake of government reforms happening recently. Buyer’s positive change of mood has lot to do with RERA policies towards customer’s long standing concern for better transparency and accountability in real estate transactions. With lack of trust and insecurities among the people earlier many people were hesitant to put their hard earned money to buy houses from developers because of the lack clarity and transparent policy to regulate the real estate market in case something goes wrong and they might get stuck in the legal process.
Centre’s focus on affordable housing and rate cuts have also encouraged the lower income home buyers. The interest rate has gone down and a positive recovery is very much expected in the residential sectors. RERA will boost the confidence of investors and will protect the buyers from fraud, false promises and violation of acts. Now buyers will be able to make informed decision based on the RERA and GST Bill. The right of consumers will be well protected and will encourage the investors as well.