The RERA Effect on Indian Real Estate Sector: Review by Anuj Puri, Chairman - ANAROCK Property Consultants.

It was not the magic wand it was hoped to be. However, over the past two years, the Real Estate Regulatory Act (RERA) has brought more sanity - and the return of consumer power - than seemed possible in such a short time. The real estate sector is still struggling with it and the Act is very much work-in-progress in many states, but RERA nevertheless hangs like a sword of Damocles over a previously unregulated industry. Eventual compliance across the board seems inevitable.

According to the latest readings on the Ministry of Housing and Urban Affairs (MoUHA) website:

In previous years, strong political will was often highlighted as the most necessary catalyst for change in a country like India. It has arrived - Modi 2.0 has displayed a single-minded focus on many fronts, and not least of all in its promotion of affordable housing. There is little reason to second-guess this government's will to see its goals to fruition.

Nevertheless, developers face several roadblocks to adopting the affordable housing mantra wholeheartedly. Where will the necessary land in central urban areas come from? When will the basic infrastructure necessary to make the cheaper peripheral areas viable for affordable housing be built?

As India embarks on another year of independence, the country's real estate sector has a lot to be grateful for, a lot to hope for - and still a lot to worry about. Amidst the dual challenges of liquidity crisis and stuck projects that hang like persistent thunderclouds over the sector, we nevertheless inch closer to the ultimate goal of Housing for All by 2022.

Purulia (West Bengal), Apr 30 : Two Central paramilitary force personnel were injured when Maoists exploded a landmine near a polling booth in Biramdih in West Bengal''s Purulia District on Thursda

New Delhi/Mumbai, Apr 30 : Polling for the third phase of Lok Sabha elections began today amid tight security.

In this phase, the election is being held in 107 constituencies spread across nine states and two Union Territories.

Polling for all the 26 Lok Sabha seats of Gujarat is also taking place today.

Besides Gujarat, polling is being held in 16 seats in Madhya Pradesh, 15 in Uttar Pradesh, 14 in West Bengal, 11 each in Bihar and Karnataka, 10 in Maharashtra and one each in Jammu and Kashmir, Sikkim, Dadra and Nagar Haveli and Daman and Diu.