“The real estate regulatory act has been a game changer for the state of Maharashtra which has the largest number of projects that have been registered under the act.
The approach of the Government of Maharashtra in setting up the website putting in place the requisite infrastructure as well assetting up conciliation panels with representatives from the consumer forum and developers to help resolve customer issues is outstanding. Proper implementation of the act will lead to a tremendous increase of confidence amongst foreign investors. Unfortunately, the implementation of the act in letter and spirit has largely happened only in the state of Maharashtra. The need for housing exists across the country and other states implementing the act in its entirety will generate confidence amongst investors to put money into other markets in the country as well to help boost the housing stock which is so needed.”
The approach of the Government of Maharashtra in setting up the website putting in place the requisite infrastructure as well assetting up conciliation panels with representatives from the consumer forum and developers to help resolve customer issues is outstanding. Proper implementation of the act will lead to a tremendous increase of confidence amongst foreign investors. Unfortunately, the implementation of the act in letter and spirit has largely happened only in the state of Maharashtra. The need for housing exists across the country and other states implementing the act in its entirety will generate confidence amongst investors to put money into other markets in the country as well to help boost the housing stock which is so needed.”
