Comment from Mr. Vikram Kotnis- Founder and Managing Director at Amura Marketing Technologies Pvt. Ltd
On
Passage
of Real Estate (Regulation and Development) Bill in Lok Sabha.
“The
RERA bill clearing Lok Sabha is a significant step in the right direction from
a transparency perspective, and will improve consumer confidence no
doubt. But I will also take it with some caution.
If the bill is implemented without implementing the single-window
clearance and definitive timelines on sanctions, it will be disastrous.
The cost of doing business will increase and without definite
timelines on clearance it will drive the smaller players out of the markets -
players who have actually kept the prices sane. This can lead to monopolistic
economies where only players with access to substantial
funds will survive, and they would charge a premium hence prices can escalate
again.
So
what needs to be seen is the specifics of implementation and most importantly
ease of doing business for a developer should also be achieved.”
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