Influence and ranking of RERA on Real Estate Sector across Jalgaon District in Maharashtra (India)

Abstract

Three years after implementation of Real Estate Regulation Act across the country it was essential to know its impact amongst over its stakeholders. This study argues to know the opinions of real estate stakeholders regarding adoption and implementation of RERA. As disciplined regulations are always appreciable but survival of lower and middle level players is also necessary for the growth of this sector. It may also help the real sector to increase transparency and enhance consumers & investors confidence. Here a pilot survey was carried out in the aforesaid regard to get an idea from stakeholders including Builders, Buyers, Engineers & Architect, Chartered Accountants and Real Estate Agents regarding implementation of RERA. In this study an attempt is made to explore the key indicators that reflect the ranking and ease of doing business in terms RERA. The study is related to the real estate business in Jalgaon district of Maharashtra state. It covers the overview of the business across the Jalgaon city and over a radius of 50 Kms including various talukas like Bhusawal, Amalner and Jamner etc. It also analyzes those parameters to examine for ranking, appropriateness of implemented clauses & challenges faced by the stakeholders.