Government’s role in legalizing and authorizing real estate reforms has been crucial. In a country like India, where most of the markets are unpredictable, there is a need for organized management of resources. Real estate being a new entrant in the ongoing completion has a lot to work upon undoubtedly with the help of government actions. Regulatory actions are a part of constant development making sure that there are no forgeries in any industry and this is the reason why most of the countries are now relying on legal reforms.
When it comes to unfair means of businesses, real estate sites in India, is not an exception. In fact, over the past few years, there has been an increase in such business activities and the reason behind is the bombardment of numerous investing options among buyers. There are instances where investors are often lured into fake deals, which ultimately results in a huge amount of loss that is almost impossible to recover. Apart from such activities, there is also a lack of rules & regulations, which needs to be introduced by the legal authorities. It wouldn’t be wrong to say that India has been lagging behind in all the expansion related reforms, which is now becoming need of the hour.
How are regulations being sorted?
After the legislation passed Real Estate Regulatory Bill of 2016, there was a lot of buzz about the future of such acts by the Indian government. This step was not only an introduction of rights for both the parties, but also a new step into the direction of becoming a well-organized country. Real Estate Investment Trusts (REITs) is one such step in the existing norms of real estate property in India. (REITs) provides investment funds to developers according to the availability of a project. The investment vehicle introduced by Indian lawmakers is a revolutionary step, which aims at reducing chances of money laundering.
Apart from these measures, government is leaving no stone unturned by investing their time in the reforms related to Foreign Direct Investment (FDI). The housing sector gets benefited by it as lawmakers are trying to build more employment opportunities in sectors such as townships, apartments and other development projects. click here
A promising future
With the help of aforementioned regulations, the future of Indian real estate looks quite hopeful. The policies are enacted not only to help out the buyers make right decision and use them in case of any falsification but also for the developers who have needed it from time to time. After the global financial crisis of 2008-09, there has been a sense of alarm within the people operating in this industry. The sudden backlash made was handled with a vision of creating a better infrastructure by keeping in consideration the current market situation. Therefore, with the help of such downfall, the Indian economy picked up itself and now looks forward to an optimistic future of flawless transactions in the real estate business. Despite this unpredictability in the market, investors and developers are hopeful for long-term aspects of the realty sector. Apart from that, government has also revamped its faith in the property sites and hopes for a more profitable and stable market ahead.