RERA to pull down number of project launches in India
According to property consultant Colliers International, new projects are likely to witness a drop in the short term largely due to the fact that the fewer projects will be ready for registration as developers will wait to see how the new norms pan out and how other projects fare with the RERA.
“ The key issue for developers is to prepare for the changes at the earliest as the Act applies to all existing projects as well. Based on our analysis, an improvement in project planning should help developers to avoid delays and manage project funds efficiently. Adopting the process early on will give developers an edge over their competitors and generate trust among buyers,” said Surabhi Arora, Senior Associate Director, Research, at Colliers India.