Published Paper Details:

The Real Estate sector is one of the most globally recognized sectors. In India Real Estate is second largest employer after agriculture. The announcement of Real Estate Regulator bill which was passed by The Indian Parliament in March 2016 has ensured a new era in the Indian Real Estate market. A questionnaire consist of number of questions printed in definite order on a form. Data is collected from 30 different builders and asked to fill the questionnaire and personally discussed the impact of RERA Act. This research has included residential and commercial project in Ahmedabad city of Gujrat state in India. Likert scale of 1 to 7 was used as all respondents were well aware of the new act in their business practice. Seven regression models were identified in this research. Real Estate act brings transparency in transection and resolves the matters between customer and developers. After implementation of this Act quality of construction has improved and builders are giving possession on time. RERA has improved this sector by making user friendly website which provides all the necessary information about it. Small developers cannot do multiple project at same time because of increase project legal cost, developers will have to disclose balance sheet for financial years and income tax returns of three years on RERA website and unable to complete project on time. Fund escrow is dependent upon 10% of total booking amount, compensation pay to customers from missing date of possession and RERA registration charges.