Indian economy has opened up to the world and foreign funds are set to roll in. However, project delays still pose a challenge and are one of the key reasons for sky high prices.
In December 2015, the Real Estate Regulatory Bill got a nod from the Union cabinet and came one step closer to becoming an Act. The bill advocates three major principles: transparency, accountability and efficiency.
Also, it marks a provision for imprisonment of builders and real estate agents in case of violation of rules. The bill is said to revolutionise the Indian construction and real estate sector.
Liases Foras research firm is the Real Estate Knowledge Partner for The Big 5 Construct India 2016.
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