Reasons Behind the Improvement in the Trustworthiness Indian Real-Estate Sector
A study held recently suggests that the Indian real estate sector has touched the highest mark for transparency index globally. JLL published a report a few days back that says that India is not on the number 34 when it comes to transparency.
It is notable that it was 35th in the last years and 39th before 2017. Even though the improvement in the ranks is not highly significant, yet it is really good news for Jaipur home buyers looking for 3BHK independent villas as the essential steps taken in this regard by the government are commendable.
The harbingers of this tiny yet satisfying success are RERA (Real Estate Regulation and Development Act 2016) and REIT (Real Estate Investment Trust). Digitization of records and payments have also played a vital part in the same.
The contribution of RERA was outstanding because it culled out the unwanted and non-essential elements from the real estate businesses and took a builder’s promise online. That way the user can spot the difference between what is promised and what is offered.
Shubhashish Geeta, a well-appreciated villa society that offers stunning independent houses with lots of benefits for people looking to buying a home in Jaipur, says that new regulations by RERA are strict and it does half the work for buyer’s assurance.
We can conclude it as the real estate sector is slowly shedding away its old-fashioned and improper ways of doing things. And it is gradually being shifted in the hands of educated professionals which has direly needed to be accomplished for a long time.