Real estate regulators in states and Union Territories have so far disposed of nearly 1.25 lakh consumer complaints against developers, according to the Economic Survey 2023-24. The Real Estate (Regulation & Development) Act, 2016, popularly known as RERA, was enacted to bring about much-needed reform in India's real estate sector. The main objective of RERA is to encourage greater transparency, citizen-centricity, accountability, and financial discipline, thus empowering home buyers and boosting the economy. The survey highlighted that all states/ Union Territories (UTs) have notified rules under RERA except Nagaland, which is in the process of notifying the rules. As of July 1, 2024, over 1,30,186 real estate projects and 88,461 real estate agents have been registered under RERA. "RERA provides for the establishment of a fast-track dispute resolution mechanism for the settlement of disputes. As of 01 July 2024, 32 states and UTs have set up the Real Estate Regulatory Authority, .
Institutional investments in real estate fell 40 per cent annually in January-March to USD 995.1 million because of a lower inflow of funds in office, residential, and warehousing assets, according to Colliers India. The institutional investments stood at USD 1,658.3 million in the year-ago period. Out of the total institutional investments, real estate consultant Colliers India highlighted that foreign funds contributed 55 per cent while domestic investors 45 per cent. As per the data, the institutional investments in the office fell 38 per cent to USD 563 million in January-March this year from USD 907.6 million in the corresponding period of the previous year. The residential segment witnessed a 72 per cent fall in investments to 102.6 million from 361.1 million. The inflow of funds in industrial & warehousing assets dipped 18 per cent to USD 177.7 million from USD 216.3 million. Alternate assets, which include data centres, life sciences, senior housing, holiday homes, studen
Sensitive rehab, retaining local jobs key challenges in Adani's mega project
Property tax is one of the major sources of revenue for local governments/Urban Local Bodies (ULBs)
Stick to RERA-registered brokers, preferably the tech-savvy kind, and look for deep knowledge of the micro-market you are interested in
History shows that links between corporate powerhouses and terror financing are not new. Nor are they restricted to industries such as cinema or real estate
The Real Estate Act (RERA) aims to make consumer the king
They are also protesting against bringing ongoing projects under it