{"id":53938,"date":"2017-05-06T22:34:47","date_gmt":"2017-05-06T15:34:47","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/?p=53938"},"modified":"2017-05-06T20:40:27","modified_gmt":"2017-05-06T13:40:27","slug":"rera-legislation-in-india-a-leveller-of-playing-field","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/rera-legislation-in-india-a-leveller-of-playing-field\/","title":{"rendered":"Rera legislation in India a leveller of playing field"},"content":{"rendered":"


\nAaron Solomon, a partner at Solomon & Co, a law firm in Mumbai, talks about the implications of Rera in India for UAE developers. What might Rera mean for UAE investors in developing residential properties in India?UAE investors acting as developers in real estate projects in India can be assured of a level playing field and adoption of internationally adopted practices for real estate development in India. They could be assured of greater certainty, heightened transparency and clear regulatory norms. The act provides clarity to investors and developers in terms of their returns, risks and cash flows.
\nWhat other effects could the new law have?Rera will bring transparency in the development of a real estate project, including timely completion of the project, reduce frauds and introduce professionalism. Rera also contemplates the issuance of title insurance to reduce the risk of title disputes affecting the Indian real estate project. On the other hand, the Indian real estate project would be highly regulated. Violation of provisions of Rera may attract a penalty up to 10 per cent of the estimated project costs and on continued violation, the promoter – including the UAE investor acting as a developer – may be further penalised, including imprisonment.
\nWill Rera mean higher costs for developing residential projects in India?The cost of developing residential projects in India would increase because of the compliances, which the developer has to observe under the rules and regulations of the act. The revised development control regulations, which are expected later this year, are likely to increase the developable potential of Indian real estate, and since the size of construction will be higher, developers are likely to be compensated for the additional costs towards compliance.
\nbusiness@thenational.aeFollow The National’s Business section on Twitter
\n
\nSource : thenational.ae
\nRead more…Rera legislation in India a leveller of playing field<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Aaron Solomon, a partner at Solomon & Co, a law firm in Mumbai, talks about...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-53938","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-e1Y","jetpack-related-posts":[{"id":53936,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/indias-real-estate-law-faces-resistance\/","url_meta":{"origin":53938,"position":0},"title":"India's real estate law faces resistance","date":"May 6, 2017","format":false,"excerpt":"\r India's property market has long been troubled by unscrupulous developers and weak regulations. So it is no wonder that a new real estate law, which came into effect on May 1, is being closely watched. The hope is that the Real Estate (Regulation And Development) Act (Rera) will wipe\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":16804,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/off-plan-developers-cannot-impose-extra-costs-on-investors-after-sale-declares-rera-chief\/","url_meta":{"origin":53938,"position":1},"title":"'Off-plan developers cannot impose extra costs on investors after sale', declares RERA chief","date":"June 16, 2016","format":false,"excerpt":"\r Dubai regulator confirms it intervened in dispute between investors and ACW Holding\r \r Source : arabianbusiness.com\r Read more...'Off-plan developers cannot impose extra costs on investors after sale', declares RERA chief","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":143691,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/dubai-real-estate-new-rera-calculator-reset-to-limit-landlord-rent-hikes-boost-transparency-say-experts\/","url_meta":{"origin":53938,"position":2},"title":"Dubai real estate: New RERA calculator reset to limit landlord rent hikes, boost transparency, say experts","date":"April 5, 2024","format":false,"excerpt":"\r Previously, Dubai landlords could seek a rental evaluation to adjust rental rates based on the outdated calculator's benchmark\r \r Source : arabianbusiness.com\r Read more...Dubai real estate: New RERA calculator reset to limit landlord rent hikes, boost transparency, say experts","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i2.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2024\/04\/Dubai-Marina-1000x667-1.jpg?fit=1000%2C667&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":36996,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/dubai-cracks-down-on-rogue-property-agents\/","url_meta":{"origin":53938,"position":3},"title":"Dubai cracks down on rogue property agents","date":"December 4, 2016","format":false,"excerpt":"\r Dubai is attempting to crack down on rogue estate agents who put up advertisements for properties on which they have not been instructed to promote in an attempt to get a cut of the fees. In an announcement on Sunday, the Real Estate Regulatory Agency (Rera), the regulatory arm\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":10530,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/backloading-off-plan-property-payments-worrying-says-rera-ceo\/","url_meta":{"origin":53938,"position":4},"title":"Backloading off-plan property payments 'worrying', says RERA CEO","date":"April 12, 2016","format":false,"excerpt":"\r Rise in post-completion payments could backfire on developers, claims Marwan Bin Galita\r \r Source : arabianbusiness.com\r Read more...Backloading off-plan property payments 'worrying', says RERA CEO","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":27463,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/real-estate-brokers-in-dubai-now-need-to-gain-approval-for-property-ads\/","url_meta":{"origin":53938,"position":5},"title":"Real estate brokers in Dubai now need to gain approval for property ads","date":"September 27, 2016","format":false,"excerpt":"\r Dubai property brokers will need approval before issuing advertisements and social media campaigns under new rules.Brokers this week received a circular from the Real Estate Regulatory Agency (Rera) alerting them to the need to apply for permits before issuing \"any real estate announcements\" - this includes print and radio\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/53938"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=53938"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/53938\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=53938"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=53938"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=53938"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}