The Real Estate Regulatory Act (RERA) 2016 is considered as one of the landmark legislations passed by the Government of India. Its objective is to encourage greater transparency, citizen centricity and accountability into the real estate sector.
The formation of Gurugram Metropolitan Development Authority (GMDA) is endorsing as a governing factor for the economic development and planning of Delhi NCR. The organisation will propagate the alliance between different governing agencies diminishing their directional disparities.
After the completion of the deadline on July 31, 2017, for RERA registration ongoing projects, several projects are yet to be registered. Haryana-based realtors are expecting an extension in the deadline for the registration of the remaining projects under H-RERA. They have come across, approaching three months of extension in the deadline to the government.
If we talk about affordable houses, it typically denotes the housing needs of the lower or middle income population. The government has taken a number of steps to make affordable housing a reality for all.
The union government has proposed a public private partnership (PPP) Policy, under which affordable housing will be provided land in order to boost housing development. The Ministry of Housing and Urban Poverty Alleviation (HUPA) has formed the model of PPP policy for affordable housing to induce the developer to explore extra developable area.