The new RERA act which was introduced in March 2016 will now be implemented soon. There are a number of rules added to the act to ensure that the real estate industry move ahead thereby incurring more investments. The whole sole motive of the government to introduce such an act was to offer transparency to the buyers. This will surely be achieved and there are several other benefits that the builders and buyers can grab. That is why the buyers and builders are looking forward to this act to let the industry go through a fresh transformation.
RERA act and its impact on the market
Currently, the real estate industry is going through a slowdown condition but with RERA act there are high chances that the market conditions will improve. The prices will definitely increase thereby bringing in more security on the part of the buyers. Through this act, the government will try to bring up the investments as builders are finding it tough to arrange finances to accomplish their projects successfully. This is having a big influence on their projects which are in incomplete state and their prices are going down day by day. But the situation will get better with the RERA act and that is why the builders are looking forward it.
It is not only the builders who will benefit from this law but the buyers as well. The speed of the projects will go high in order to complete them in the minimum time. The queries and the problems faced by the buyers will come to an end as there will be more transparency. Making any kind of investment will be safer as compared to the earlier ones as security is one of the biggest concerns of the government.
Though there are numerous advantages which will come your way but the prices will go up once the RERA is in. So if the buyers are interested in buying the home, they can do as the cost is quite low and one can grab some of the exciting deals. The current festive offer is something that you can take advantage of and book your dream home today. You only need to ensure that the credentials of the builder are good and worth relying. Do make proper research before investing in any property so as to take the right decision.
What are you waiting for, just book flats in and around NOIDA extension as the conditions are in your favor.