Should you rush to ride realty rally as RERA comes into force today?

Realty shares such as Indiabulls Housing and DLF have gained anywhere between 30% and 90% this year

The beaten-down shares from the real estate sector are on fire these days, with the BSE Realty index soaring 52% year-to-date, compared with just 12% rise in the BSE Sensex during the same period. 

This is amid multiple developments on the reform front - from the implementation of Real Estate (Regulation and Development) Act, 2016 (RERA), to amendments in Real Estate Investment Trust (REIT) regulations, which are seen as a long-term positive.  

The government's renewed focus on affordable housing and hopes that the reforms taken so far will instill confidence among the home buyers, along with the ongoing re-monetisation process, outlook