Every obstacle is an opportunity to take stock and realign the organization objective. Same is the case with Real estate regulatory authority bill. It will give serious builder with long term focus huge advantage over others. It’s time to update and upgrade. Systems need to be built and processes to be drafted so that onwards journey is less turbulent. RERA compliance will surely create positive traction in the industry as informed buyers will take the speedy decisions.In this rera-punjab is a significant step in right direction.
There is widespread optimism among all the stakeholders and this is a very positive development. Brokers have welcomed it with open arms as they feel this is the step in right direction. Corporatization is buzzword in broker community and brokers are taking necessary steps to take the best foot forward. Franchise India taking over Re-max stake is a step towards corporatization of broking.
In coming months, we will see enterprising brokers creating mini corporates thereby helping real estate industry become industry in true sense. Industry associations need to play major role in upgrading developers and broking community. Large developers need to play the role of mentor to educate and support small developers as any wrong step by anyone will wipe out any gains coming out of RERA implementation.
One should learn from the NASSCOM experience where IT industry created huge industry without any major support from Govt. It’s time to look forward with optimism and hope that this opportunity is not wasted.