• SHUBHANGI SALUNKHE
• R MAHADEVA SWAMY

For Indian real estate sector has been facing a slump since 2012. This is due to factors like unemployment, inventory pile-up, recession, low rental yield, unclear taxes and arbitration. However, the property prices have not stabilized accordingly (The Indian Express). As a result, the demand for property has decreased further. This reduced demand is causing a slowdown in the recovery of investment builders. The major issue facing the sector is lack of transparency. The system until recently was opaque with regards to price, construction delay, construction quality, ownership (title) and litigations. Of these, the biggest issue is the delay in the delivery of property to buyers. During the last two decades, the number of under construction properties rose to an all-time high. Particularly in major cities, many builders have flouted norms by failing to keep up with project deadlines (The Economic Times, 2017). For a homebuyer investing his life savings in the property, indefinite delays are a cause for worry. This case study is developed for Pune city by using conventional approach and RERA approach. Property agents or brokers took advantage of prospective homebuyers by misinforming them about the quality of construction and completion. They misled homebuyers regarding amenities of the property. They would give assurances orally regarding property documents which were often missing or incomplete. Furthermore, the agents would hide the status of properties under litigation from prospective buyers (Sharma, 2017). Real Estate business at present has become a havoc /nightmare for the customers who are investing in Real estate. There are numerous cases of poor quality, increased cost and delay in projects of construction with respect to client and customer which results in loss of resources. To eradicate these issues, the government has proposed to implement RERA Act in India on May 1st 2016. The main purpose of this act is to protect home-buyers and also to help the real estate industry for investments, provide transparency of transactions and improve the quality of construction. But this act is not being implemented all over India due to various factors. This paper tries to study the factors affecting implementation of RERA, advantages and comparison of RERA implemented building with conventional building by taking a live construction as a case study in Andhra Pradesh. The paper highlights the use of RERA, its benefits and proposes RERA act as mandatory tool/norm for improving the quality and life of building in concern with the customer.

Authority, mechanism, real estate, RERA, projects, disputes, Eradicate, Transparency, Implement, Comparison, Conventional Building.

"ANALYSIS OF IMPACT OF RERA ON SMALL, MEDIUM AND LARGE SIZE CONSTRUCTION INDUSTRY IN INDIA CASE STUDY FOR PUNE REGION", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.8, Issue 10, page no.b563-b575, October-2021, Available :http://www.jetir.org/papers/JETIR2110162.pdf

"ANALYSIS OF IMPACT OF RERA ON SMALL, MEDIUM AND LARGE SIZE CONSTRUCTION INDUSTRY IN INDIA CASE STUDY FOR PUNE REGION", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.8, Issue 10, page no. ppb563-b575, October-2021, Available at : http://www.jetir.org/papers/JETIR2110162.pdf