Manel Srinivas Nayak Knowledge Series - A Talk on "RERA-A Game Changer" by Mr. D. B . Mehta, Chairman & Director, Allegro Group. President CREDAI-Mangalore.
Speakingat Manel Srinivas Nayak Knowledge Series on 25thNovember 2017 Mr. D.B Mehta President CREDAI-Mangaluru stated that RERA is aGame Changer as it has brought in the much needed transparency in the realestate segment. Previously buyers were finding it difficult in understandingthe nuances of real estate segment. But now they have been clearly definedunder RERA, along with the responsibilities of the three parties of a real estate trade namely the Builder, Real Estate Agent, andthe Government. Mr. Mehta stated that the CREDAI is working with the Governmentto bring about a single window clearance system like in Gujarat and Maharashtrato speed up the clearance from the Government side, while the Builders and realestate agents are allowed to initiate bookings from buyers only after they have all the necessaryclearances and registration under RERA.
Toincrease the transparency, the builders will be required to show all the approvalsfrom RERA and also their financial solvency in their website. Buyers andInvestors are to deal with only RERAapproved Real Estate Agents, thus increasing the value of real estate as aninvestment avenue. He was very optimistic that Real Estate will emerge as aleading investment avenue in India.