Poll: 58% say they feel encouraged to invest in real estate thanks to RERA

Business Standard poll indicates people are encouraged by RERA coming into force

The Real Estate (Regulation and Development) Act, 2016, or RERA came into effect from May 1, 2017.

The Act came into force after home buyers had been demanding a check on real estate developers who delayed delivery of projects by years. RERA aims to give them a safety net. Its real intention is to protect consumer interests and also make sale or purchase of real estate more efficient and transparent.

RERA also aims to establish an adjudicatory mechanism for settling disputes.

Read: How RERA will ease the burden on innocent home buyers

Read: State-wise status of RERA: Most of them miss deadline

This should be good for those looking to buy their own homes, right? What is the public perception about this Act?

Read: Now that RERA is a reality, should you buy an under-construction property?

Business Standard did a poll on social media and asked the following question:

With RERA coming into force, do you now feel encouraged to invest in Real Estate?

The result of the poll indicates that people are upbeat about RERA coming into force and are optimistic about investing in real estate. 58% of the respondents said yes, they felt encouraged to invest in real estate thanks to RERA.