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RERA Effect: Land prices likely to come down - The News
Posted
June 2, 2017
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June 2, 2017
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4:02Now PlayingCall it the real estate regulatory authority effect, but with the real estate regulator in place, land prices could get cheaper across India. The regulator which promises to bring in transparency and accountability into the real estate sector has made developers extremely cautious.
In an auction conducted by City and Industrial Development Corporation this year, land rates fell by 25-40% as compared to the last auction. Developers said they are being cautious because of the Real Estate Regulatory Authority (RERA). Developers are in the process of registration with the regulator. Till now, only 12 builders in Maharashtra have registered with the RERA.
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