Over to RERA regime


With the Centre notifying final rules for implementation of the RERA Act, the real estate scenario in the country is set to undergo a revolutionary change. Having transparency and accountability as its hallmark, the Act will also prove a boon for serious developers by heightening their credibility quotient. Homebuyers are also going to be major beneficiaries with the Act factoring in clauses like the escrow account and stringent penalties for delays. With increased trust and almost complete transparency, the operationlisation of the Act is also bound to give the much-needed thrust to the real estate industry.