Revitalise the Real Estate

The real estate sector plays a catalytic role in fulfilling the need for housing and commercial infrastructure in the country. Today, the sheer will of the government to implement policy reforms to address the real-estate sector must be lauded. What is also visible is the fact that the authorities are going beyond quick-fix solutions to address challenges on a structural level. This is a boost to the confidence as one realizes that many of the ills earlier plaguing the sector are now addressed on a holistic level. The opacity is swapped with increasing transparency and non-standardisation making way for a modicum of regulation and unaffordability exchanged with a property transaction that is within the financial grasp of India’s masses.

Reforming Real-Estate

The assessment of the future is as important as an analysis of the past. The following are representative of some of the core developments that will carve the future of India’s realty industry.


One, real estate promoters are becoming and will further become more conscious of their brand and execution and delivery capabilities. In addition to buyer activism that can induce stringent penalties for delays, regulatory pressures will also keep developers on their toes for them to adhere to hand-over timelines.


Two, documentation is becoming far more significant now than it was ever before. Single-page allotment letters will be a thing of the past and rigorous and comprehensive documentation will be the guidepost for all stakeholder interpretations with respect to the deal.


Three, builders will increasingly emphasize on the quality of the construction to stay in business. They will have to live up to the claims illustrated in their marketing brochures for ensuring accurate alignment with buyer expectations.


Four, holistic living will gain greater prominence as consumers look at their homes those are indicative of their lifestyle as they make a statement. Hence, community living with the property offering a large number of facilities and amenities will be increasingly preferred over standalone buildings.


Five, the Real Estate Regulation and Development Act (RERA) will augur well for players, who are organised, have time-tested business models in place, and take a long-term focus on their business. Retrospective RERA compliances for projects that are in advanced stages of construction might emerge as a short-term challenge for some players but will lead to the growth of the industry as a whole.

Six, a deep patriotic fervour to do national good and the commitment to provide people with their lifestyle will segregate visionary builders from those merely in the pursuit of profit.

So as the real estate developers strengthen their offerings and innovate to provide quality services, the sector as a whole will benefit from best practices.

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