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Dear ck.kislay,
You are subscribed to the thread "Real Estate Bubble Set to Burst Again in India" by MANOJa, there have been 3 post(s) to this thread, the last poster was sapvin82.
https://www.indianrealestateforum.com/forum/city-forums/ncr-real-estate/gurgaon-real-estate/13876-real-estate-bubble-set-to-burst-again-in-india
These following posts were made to the thread:
https://www.indianrealestateforum.com/forum/city-forums/ncr-real-estate/gurgaon-real-estate/13876-real-estate-bubble-set-to-burst-again-in-india
Posted by: Bharatiya
On: April 29 2018 03:14 PM
[h=1][SIZE=14px]1 year of RERA: Builders still selling distant dreams without clear roadmap[/SIZE][/h] [QUOTE]Almost a year after the [URL="http://www.business-standard.com/search?type=news&q=real+estate"]Real Estate [/URL]Regulatory Act (RERA) was enacted, its implementation is still patchy, with a permanent regulator missing in most states. The result is that buyers still have not got a clear roadmap and builders continue to sell distant dreams. Among 29 states in the country, only Maharashtra, [URL="http://www.business-standard.com/search?type=news&q=madhya+pradesh"]Madhya Pradesh [/URL]and [URL="http://www.business-standard.com/search?type=news&q=punjab"]Punjab [/URL]have set up permanent [URL="http://www.business-standard.com/search?type=news&q=real+estate"]real estate [/URL]regulatory authorities so far. [URL="http://www.business-standard.com/search?type=news&q=jammu+and+kashmir"]Jammu and Kashmir [/URL]is out of the purview of the Act as the state has to enact its own law. "Given that it is a state subject, the implementation has been quite varied," said Pallav Pandey, Co-Founder and CEO, FastFox, an [URL="http://www.business-standard.com/search?type=news&q=online+platform"]online platform [/URL]for rental housing, adding that "much confusion persists on what is permissible in practice". According to a report by the consultancy firm Knight Frank, eight states have not even installed a regulating authority and the remaining 17 have installed "interim" regulators. "Sadly, most states have been playing the waiting game about getting a permanent regulator after handing over the reins to such 'interim' authorities. What was strictly supposed to be a stop-gap arrangement has turned into a standard," says the report. Additionally, only 14 states and seven Union Territories have a [URL="http://www.business-standard.com/search?type=news&q=functional+portal"]functional portal [/URL]in place and 20 states and the Union Territories have notified the rules. The report says that [URL="http://www.business-standard.com/search?type=news&q=maharashtra"]Maharashtra [/URL]had been among the best executioners of the Act. Over 25,000 projects have been registered under [URL="http://www.business-standard.com/search?type=news&q=rera"]RERA [/URL]across India, out of which 62 per cent are in [URL="http://www.business-standard.com/search?type=news&q=maharashtra"]Maharashtra [/URL]alone. "[URL="http://www.business-standard.com/search?type=news&q=maharashtra"]Maharashtra [/URL]is the only exception where the regulator's proactive functioning has set new precedents every second day," the report says. Although setting up of a permanent regulator has sorely lagged behind, stakeholders say the [URL="http://www.business-standard.com/search?type=news&q=rera"]RERA [/URL]had already caused some perceptible changes in the market. "The Act has helped in eliminating the pre-launch projects completely from the market which had led to a price hype," says Gautam Thapar, [URL="http://www.business-standard.com/search?type=news&q=ceo"]CEO [/URL]of Delhi-[URL="http://www.business-standard.com/search?type=news&q=ncr"]NCR [/URL]based Thapar Builders. "In the past one year, the [URL="http://www.business-standard.com/search?type=news&q=rera"]RERA [/URL]Act has become a [URL="http://www.business-standard.com/search?type=news&q=custodian"]custodian [/URL]of the much-required transparency and redefined rights for both of the sides. It has also helped the industry to clean up the unorganised and fly-by-night players from the market," he added. According to Anshuman Magazine, [URL="http://www.business-standard.com/search?type=news&q=chairman"]Chairman [/URL]of [URL="http://www.business-standard.com/search?type=news&q=india"]India [/URL]and South East Asia, CBRE: "The reform has brought about regulation and transparency into the sector, further augmenting the growth of the property market in [URL="http://www.business-standard.com/search?type=news&q=india"]India.[/URL]" Talking of limitations, Amit Wadhwani, [URL="http://www.business-standard.com/search?type=news&q=director"]Director [/URL]of Sai Estate Consultants, said that [URL="http://www.business-standard.com/search?type=news&q=rera"]RERA [/URL]had not been able to curb black money in [URL="http://www.business-standard.com/search?type=news&q=real+estate"]real estate [/URL]yet. "Provisions regarding controlling the black money should be brought into effect, he emphasised. He also said that builders were putting dates much ahead of their approximate completion time thus giving themselves much greater leeway in handing over projects. The regulator should take that into account and give projects a stipulated time to complete. A major feature of the Act is that even brokers and consulting agents have to register themselves. However, this was not really happening. "For brokers or agents, the year has been somewhat overwhelming. A number of them have refrained from registering to take advantage of the [URL="http://www.business-standard.com/search?type=news&q=rera"]RERA [/URL]opportunity," said Shubika Bilkha, [URL="http://www.business-standard.com/search?type=news&q=director"]Director [/URL]of [URL="http://www.business-standard.com/search?type=news&q=real+estate"]Real Estate [/URL]Management Institute (REMI). She said that women who served as agents have in particular been more wary to involve themselves in this evolving framework. "It is incumbent on the industry and the regulators to ensure that these agents find their way into the structured regime," Bilkha added. Market players say a major obstacle in the way of boosting demand was the higher rate of Goods and Services Tax (GST) on under construction and near completion projects. Thapar said there had not been enough impact on buying decisions for near-completion projects due to the higher GST rate of 12 per cent on them in comparison to 4.5 per cent service tax earlier. Pandey from [URL="http://www.business-standard.com/search?type=news&q=fastfox"]FastFox [/URL]says the government should think of bringing the rental housing also under the purview of the Act. "[URL="http://www.business-standard.com/search?type=news&q=rera"]RERA [/URL]only covers new home sales. That is not the complete real estate," he said, adding that 40 per cent of urban [URL="http://www.business-standard.com/search?type=news&q=india"]India [/URL]lived on rent. Despite the initial hiccups, most stakeholders believe that, eventually, the law would help in leading to a stable, streamlined and transparent property market. "In the long run it will bring about a better aligned structure to the realty sector," Magazine of [URL="http://www.business-standard.com/search?type=news&q=cbre"]CBRE [/URL]said. [/QUOTE] [url]http://www.business-standard.com/article/companies/1-year-of-rera-builders-still-selling-distant-dreams-without-clear-roadmap-118042900143_1.html[/url]
With warm regards,
Team IREF
https://www.indianrealestateforum.com/forum/city-forums/ncr-real-estate/gurgaon-real-estate/13876-real-estate-bubble-set-to-burst-again-in-india
Posted by: MANOJa
On: April 29 2018 03:28 PM
[QUOTE=MANOJa;n2595692][I][U][SIZE=18px][COLOR=#FF0000]GUYS, I CAN SEE DISGUISED POLITICAL DISCUSSIONS HAPPENING HERE . STOP OR EXPECT A PERMANENT BAN .[/COLOR][/SIZE] [SIZE=26px][COLOR=#FF0000]LAST WARNING .[/COLOR][/SIZE][/U] [B]Political discussions are not allowed in main threads . Political bashing in guise of criticizing the Government or the Opposition is not allowed . Anybody found indulging in Political discussions & throwing the on going discussions off track would be suspended or banned permanently . For political discussions, head to [/B][URL="https://www.indianrealestateforum.com/forum/iref%C2%AE-lounge/the-off-topic-forum/indian-politics"]https://www.indianrealestateforum.co...ndian-politics[/URL][/I] [U][COLOR=#FF0000][B]Off Topic/Political Discussions[/B][/COLOR][/U] Please make every effort to keep your posts relevant to the active thread topic. Detours usually take a thread wildly off topic, and invite others to do the same. Off topic posts (and any responses to such posts) may be deleted without notice.[/QUOTE] [COLOR=#FF0000][B]We are severely short of moderation staff, so it is not possible for me to read all posts and take action (posts may get overlooked) & in many cases, action may be delayed .[/B] [B]Help the forum remain clean by reporting all crap and posts meant to ignite passions, posts which are flaming, any Political discussions .[/B] [B]Please don't engulf me by repeated reporting of Posts, as i said we r short of Moderators .[/B] [B]Please note that we Moderators don't have any favourites or enemies here . Anybody who goes by the Forum rules is welcome here in the Forum & anyone who breaks them needs to be controlled or thrown out .[/B][/COLOR] I[B]nsults/Flaming[/B] IREF was put together for people to come together and help each other, collaborate and discuss in a positive way – not bash on someone because you don't like their idea, or because they don't share the same views as you. We are big into the free speech idea here. So you're free to say what you think – but do it in a constructive and positive way. We encourage mature debates – discourage childish arguments. Personal attacks, insults, rudeness, racism, threats, name calling or unnecessarily inflammatory posts will NOT be tolerated. Common courtesy, politeness and respect for fellow members, along with constructive posting of opinions are essential in preventing posts from being edited and/or deleted, or having threads locked. Whilst we encourage healthy disagreement/debate, please maintain respect towards fellow members at all times.
With warm regards,
Team IREF
https://www.indianrealestateforum.com/forum/city-forums/ncr-real-estate/gurgaon-real-estate/13876-real-estate-bubble-set-to-burst-again-in-india
Posted by: sapvin82
On: April 30 2018 01:05 AM
I have said many times. Useless discussion goes on like Mallaya, Nirav modis..political corruption which has nothing to do with this forum. [b]Real Estate will not crash in India for another decade. I have been saying this for last 5 years. [/b] I think all negativity will go on till next elections. unless we close this thread.
With warm regards,
Team IREF
With warm regards,
Team IREF
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