BENGALURU : When realty prices hit the roof in Bengaluru and other major cities in the past two decades, small time brokers and agents had a free run as they became indispensable in the sector. But now with property brokerage coming under the ambit of the Karnataka Real Estate (Regulation and Development)
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The deadline for rolling out the Real Estate Regulation Act (RERA) is set to expire on July 30, but the country’s largest state, Uttar Pradesh, is nowhere near implementing it. The Yogi Adityanath government is yet to notify the rules, form a new authority, select its chairman and members,
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Three major reforms — demonetisation, Real Estate Regulation and Development Act (RERA) and Goods and Services Tax — introduced in a short span, seem to have taken the wind out of the sails of real estate sector in Telangana. While demonetisation derailed the momentum of the real estate for sometime that saw its resurgence after the formation of Telangana State,
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While world’s urban population is expected to surpass six billion by 2045, it is estimated that by 2030, 40% of India’s population will be living in urban areas and contributing 75% of GDP. As per syndicated reports, at present, there’s a shortage of 18 million homes across the country of which 15 million are needed for low-income families.
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In a major relief to citizens, the Real Estate Regulatory Authority has decided to accept complaints about unregistered projects for free of cost from informants until the 90-day period granted to builders to register their projects ends. The law though states that a mandatory fee of Rs 5,000 is required for filing of the complaint.
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For NRIs, the investment sentiment is greatly boosted by the RERA, GST, Benami Act, REIT and government initiatives like demonetization. The Indian property market has always been quite attractive for non-resident Indians (NRIs) who are keen to have some roots in their home country.
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