Eine Plattform für die Wissenschaft: Bauingenieurwesen, Architektur und Urbanistik
Eine Plattform für die Wissenschaft: Bauingenieurwesen, Architektur und Urbanistik
New vistas in Redevelopment of Housing Socieities
Housing is one of the Basic need of every person just like food and clothing and it has been the dream project of the current NDA regime by launching the ‘Housing for All – 2022‘. Areas like Mumbai which are already facing congestion to the highest extent it becomes very difficult to provide house to all at cheaper rates. “The housing stock shortage in India is around 20 million, of which 50% is urban of this 70% - 80% is in the low income segment”. The Indian housing industry is the second largest employer in the country and its contribution to the GDP is around 1 – 2%. As per the National Accounts prepared by the CSO for 2009-10. With the growing importance to housing sector the capital investment in this field which was growing by leaps and bounds also brought in more type of frivolous and unscrupulous people in the sector and more and more frauds were reported and this resulted in loss for not only home buyers and Finance companies. The need to have a proper Regulation to avert such kind of fraud was the need of the hour for every person related to such projects. Hence, the government introduced the Real Estate Regulatory Authority to facilitate transparency in the home buying process, the Indian Government passed the RERA Act in May 2016. 56% realtors have strongly agreed that they found changes due to introduction of RERA. RERA was introduced to solve the transparency issue and the issue of pesky sales schemes by Developers, which to some extent has been curtailed since its inception.
New vistas in Redevelopment of Housing Socieities
Housing is one of the Basic need of every person just like food and clothing and it has been the dream project of the current NDA regime by launching the ‘Housing for All – 2022‘. Areas like Mumbai which are already facing congestion to the highest extent it becomes very difficult to provide house to all at cheaper rates. “The housing stock shortage in India is around 20 million, of which 50% is urban of this 70% - 80% is in the low income segment”. The Indian housing industry is the second largest employer in the country and its contribution to the GDP is around 1 – 2%. As per the National Accounts prepared by the CSO for 2009-10. With the growing importance to housing sector the capital investment in this field which was growing by leaps and bounds also brought in more type of frivolous and unscrupulous people in the sector and more and more frauds were reported and this resulted in loss for not only home buyers and Finance companies. The need to have a proper Regulation to avert such kind of fraud was the need of the hour for every person related to such projects. Hence, the government introduced the Real Estate Regulatory Authority to facilitate transparency in the home buying process, the Indian Government passed the RERA Act in May 2016. 56% realtors have strongly agreed that they found changes due to introduction of RERA. RERA was introduced to solve the transparency issue and the issue of pesky sales schemes by Developers, which to some extent has been curtailed since its inception.
New vistas in Redevelopment of Housing Socieities
Dr. Vaibhav R. Ashar (Autor:in)
28.06.2020
oai:zenodo.org:3911683
Aufsatz (Zeitschrift)
Elektronische Ressource
Englisch
DDC:
720
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