Breaking News

RERA - quote from Mr. Ashish Sarin, CEO, Alpha Corp

The quote from Mr. Ashish Sarin, CEO, Alpha Corp on RERA act

Commenting on the development, Mr. Ashish Sarin, CEO, Alpha Corp said, “The Real Estate (Regulation & Development) Act 2016 (RERA) that comes in to force from today will usher in accountability and transparency in the sector and will revive confidence of key stakeholders in the real estate sector. At the same time, we are optimistic that the government will also streamline and ensure  expeditious  approval processes at various levels in order to establish a successful implementation  of the landmark RERA act .”

“Alpha Corp has been RERA compliant since its inception as we started exactly on the same principal and processes that are being laid out in the act. From the very first project, we have followed the practice of forming escrow accounts dedicated to each project along with complying to all necessary approvals before commencing any project in order to ensure quality standards and timely delivery of projects.” Mr. Sarin added

Quote on RERA by Mr. RK Arora, CMD, Supertech Ltd

Quote on RERA by Mr. RK Arora, CMD, Supertech Ltd

“Implementation of RERA Act 2017, will be playing a major role in strengthening the alliance between the buyers and developers, piling a trust factor and transparency among the sector. This law is going to reform the Indian real estate sector making it more apparent and will bring in a speedy, systematic and accountability within the proceedings.

RERA will certainly make the environment positive. The provisions under which it will function, have been framed in a manner to regulate non serious players and create a level playing field for everyone. With the implementation of the act the interest of the end buyers will be safeguarded and it is expected that the fence sitters may begin to consider their options to buy while developers will persuade to exhibit their full cooperation.”  - Mr. RK Arora, CMD, Supertech Ltd

RERA comment -Mahindra Lifespaces

Comment attributed to Mr Sunil Sharma, VP-CRM & Marketing, Mahindra Lifespaces on RERA implementation.

“The implementation of the Real Estate (Regulation and Development) Act, 2016, is widely expected to increase transparency and accountability in the real estate sector, while improving its ability to attract institutional capital.  This augurs well for all stakeholders with a long-term vision for the sector, including developers, investors, agents and consumers.  In particular, organised stakeholders with good corporate governance frameworks and customer focus are expected to derive early benefits from the implementation of RERA, owing to existing compliance with many conditions of the Act.  The real estate sector might witness the beginnings of a fresh uptrend, driven by improving consumer sentiment in anticipation of higher transparency and efficiency, renewed confidence in the economy, and lower home loan rates.
The setting up of a Real Estate Regulatory Authority in each state will bring in increased accountability in markets, thereby improving the sector’s credibility score and re-instating a sense of security amongst all stakeholders.  Furthermore, mandatory disclosure of project details, including those of the promoter, land status and clearances, is geared towards protecting consumer rights.  Overall, the sector is likely to experience positive impact and should perform better over the course of the next year or so.  Focused action on time-bound, transparent approvals and single window clearances can further aid efficient project execution and delivery.
With demonetisation behind us, the Indian real estate sector is showing early signs of revival.  The implementation of the Real Estate Act 2016 can accelerate growth in end-user and investor interest, leading to overall gain in momentum for the sector.”