RERA to revive housing demand, protect buyers, say realty firms

RERA will increase transparency in the sector; boost confidence of both domestic, foreign investors

Developers expect housing demand to recover with the implementation of the real estate law from May 1 as it will protect buyers from unscrupulous players, while prices will remain stable due to huge unsold inventory.

The two apex bodies of real estate developers -- Credai and NAREDCO -- feel that the implementation of this law will bring paradigm change in the way Indian real estate sector functions, but see some "teething" problems initially.

The two bodies wanted the government to exclude ongoing projects from the ambit of the Real Estate (Regulation and Development) Act, 2016, passed last year by Parliament, but their