RERA: There's no way home prices will go up anytime soon

Given the inventory overhang across India, it is very clear that people are not buying homes

The Real Estate (Regulation and Development) Act, 2016 (RERA), came into force on May 1, 2017. After this, those who make their living in the real estate industry have been suggesting that real estate prices will go up in the days to come. 

The logic being offered is that this will be because of compliance costs of RERA which the buyers will ultimately have to pay for. 

Given that India does not have any data which agglomerates real estate prices at the country level, those connected with the real estate industry can get away with such statements, because no one