Reaction from Mr. Ajay Chaudhary, CMD, Ace Group on completion of another successful year of RERA and its positive effects on Real Estate sector

New Delhi, July 25, 2020: Since it’s (RERA’s) formation, things have become more transparent and healthy for both buyers and the developers. As a mandatory process now, the money taken for the project is being utilised for its development purpose only. RERA has been very beneficial for those builders who were doing fair practice in the industry. It has also played an important role in eliminating the wrong doers of the industry while building a promising and a trustworthy relationship between a builder and its buyers. I think buyers have this confidence now that someone is there to listen to their plea and they don’t have to take the legal route straight away for the issues. On the other hand builders have also become more agile and transparent to their work. So, as a regulatory body, RERA has proven out to be beneficial to the real estate industry. We also like to thank the Noida Authority and all its members who are involved in making the process smooth and easy for us. There is no doubt that RERA has given a needed boost to the real estate industry and we hope the industry keeps on flourishing with such support.

Corporate Comm India (CCI Newswire)