Effect of Real Estate Regulatory Act (RERA) on Marketing of Real Estate Projects
Real estate is a very important business and was totally unorganized before 2017 i.e. before enforcement of RERA. RERA regulates Real estate, so Realtors need to follow the rules of RERA. As per RERA any real estate project needs to register before starting any type of marketing. Developers cannot advertise their project for any booking, or they cannot book or sell any inventory of their real estate projects without registration of project with Real Estate Regulatory Authority. The Authority is involved in every stage of real estate project from registration with RERA to completion of project. Lots of information needs to be displayed and declared on website so buyers have informed decision for purchase. Due to such mandatory provisions, it has major impact on marketing strategies but there is no study that how much is the effect of RERA on marketing of real estate projects.
