A brief overview about the Beverly Hills Luxury Real Estate of India is necessary to set the note for the discussion, so, India’s real estate market is the second largest and following are the sectors that fall under its purview-
- Housing
- Retail
- Hospitality and
- Commercial
Well what’s news for those keenly observant is that the real estate market of India specifically has undergone a major transformation with the establishment of RERA (Real Estate Regulatory Authority) to regulate the functioning of the market as a whole. Now one must be thinking why such step all of a sudden when it was the only unregulated sector functioning pretty efficiently but like they say “the grass is always greener on the other side”, one who belongs to the system and is a part knows that this was the most corrupted system and a safe haven for the black money laundering.
Therefore, the inception of RERA was a strong hit for those who thought real estate to be their getaway option for flushing the unaccounted money. Moreover, putting aside the black money issue, RERA would further aids in,
RERA’s Key Role
- A bridge between the purchaser and the seller to assist in the land deal
- Keep a check on the insider activities happening in the system
- Set norms to be followed by all involved in the system
- Timely registration and handing over of land to the purchaser
- Keeping a track of the Beverly Hills Luxury Real Estate agents involved in arrangement of meetings and the commission allotted to them
With RERA coming into picture the only unorganized or more appropriately the anarchy stricken sector will have a more organized functioning. Furthermore, apart from RERA another big development in the sector is the government’s active involvement in the sector itself wherein the government plans on taking various initiatives to boost the sector. Obviously real estate as a sector is in its rudimentary stage and has scope of vast expansion and this is exactly what the government seeks to play on.
Confused? Well breaking the suspense, government is planning to join hands with the government bodies of different states across India and encourage development in every sector that falls under the purview of the real estate. Therefore, government is engaging in large scale development programs which also in a way will open avenues for the real estate companies to flourish because with development in terms of infrastructure being on the government’s radar as of now, these companies will have a prime opportunity to cease any prospect that would involve development and construction.
Also the government’s Smart City Project deserves accolades! Now what exactly is this project would certainly be a question ticking in the minds of all, so, without beating around the bush any further let’s talk about the much applauded step taken by the government. The Smart City Project is a dream project of the government wherein they plan to build 100 Smart Cities and it’s a happy information for the real estate adherents that work on the same has begun already.