After coming into existence of Real Estate Regulatory Authority, property developers are stepping into the funneling of launching new projects. In a recent real estate survey released by a research group last week, it is clear that during the first quarter of the current financial year compared to the first quarter of the previous financial year, very few projects were launched throughout Maharashtra.ad
According to Calliers International India’s report, first quarter of term is affected by Real Estate Regulatory Authority (RERA) and said that in the first quarter of the current financial year, 24 percent less projects were launched. According to the report, in the first quarter of the last fiscal, where 6,500 projects were launched, only 4,900 projects were launched in the first quarter of this year.
According to real estate sector sources said that, property developers are facing strangers in the face of registering authority in the authority. On the basis of market assessment, the report says that this decline may continue for some time as the developers are still struggling to cope up with new laws.
During a meeting in Mumbai, Chief Minister Devendra Fadnavis had said that the period of the Real Estate Regulatory Authority (RERA) registration will not be extended beyond July 31. The only one thing for relief of builders is that CM has given assurances to be soft for two years.d
Calliers Executive Director Ravi Ahuja said (according to the appropriate floor space index norms) approved layout plans and the rules related to it are different from the cell plan and chargeable areas of the developers. They are hesitant to upload the details on Developer RERA’s website to sell the unsandent and unscrupulous plans. There is confusion about the underconstruction projects sold before Rare is implemented. ‘