Regulation of the realty sector

Regulation of the realty sector

by Guest Columnist on Jun 21, 2010

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Lack of regulation in the real estate sector has always been a major bottleneck in the growth and development of the sector. Even though, today it is one of the most cash rich sectors in India – a lot of ambiguity still prevails in terms of the promises made and products delivered to the customers.

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The regulation of realty sector is bound to bring path breaking changes in the existing legal regime and will offer the right measures to reform the realty market. Even though some developers will oppose to such regulations I strongly believe this will help bring the much needed transparency in real estate transactions which will safeguard the interests of the end user.
I foresee with this change, the sector will move towards more accountability and we hope that other states also follow suit, helping end users make a more informed choice.
By Samir Chopra, Chairman & Managing Director RE/MAX India

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