The implementation of the Real Estate (Regulation and Development) Act has boosted delivery of housing units.
The implementation of the Real Estate (Regulation and Development) Act has boosted delivery of housing units. There has been a 33% on year rise in delivery of housing units to over 1.93 lakh units in nine key cities across the country during the first six months of 2018 (January-June), according to a report by PropTiger.
The report, which tracks nine cities including Ahmedabad, Bengaluru, Chennai, Gurgaon, Hyderabad, Kolkata, Mumbai, Noida and Pune, said that nearly 8.6 lakh units are scheduled to be handed over to buyers by 2019-end. “Since the advent of RERA, developers have shifted their focus on completing existing projects rather than launching new ones in order to avoid penalties. This has resulted in increasing home deliveries across cities, which is a very positive development,” the report quoted Ankur Dhawan, chief investment officer, PropTiger.com, as saying.