The Federation of Telangana Chambers of Commerce and Industry (FTCCI) organized a Seminar on RERA: Concerns in Real Estate at its premises in Federation House in Red Hills in Hyderabad on Saturday.
RERA stands for Real Estate (Regulation and Development) Act is a very significant act enacted by the Government of India. It has significantly contributed to bringing transparency, accountability and investor confidence in the real estate sector in India. The complexities, challenges and opportunities presented by RERA require our collective attention and understanding.
RERA is the biggest piece of legislation for Real Estate in India, said Mr Sunil Chandra Reddy, President of NAREDCO Telangana. Real Estate contributes 20% to the economy. It contributes 800 million US $. By 2047, when India reaches an economy in the range of $33-40 trillion, the real estate as a sector will be 6 trillion US $. That is why the government also recognizes it as the most important sector, he said.
Abhishek Tibrewala, Chair of FTCCI Infrastructure, Real Estate & Smart Cities Committee said that the seminar was organized to walk through new concerns, challenges and opportunities that RERA has brought in the world of real estate. It will give an in-depth knowledge about the subject.
E. Suhail Ahmed, Partner M/s Trialbase-Advocates & Smriti Legal LLP, Bengulur gave in-depth information about dos and don’ts, legal positions and familiasrised the participants with the law.
Aimed at 250-plus Developers, Real Estate, Agents, Builders, Buyers, Legal Professionals and Industry enthusiasts it focused on navigating the challenges and opportunities surrounding RERA (Real Estate Regulatory Authority). It explored insightful discussions and gained a comprehensive new understanding of how RERA impacts the real estate industry added CA Vinay Thyagaraj.
RERA is very significant for the real estate industry for better governance, enhanced transparency, improved project efficiency and a robust and fully developed project delivery. Standardization and quality.
Vijaya Sai Meka, Secretary General of NAREDCO Telangana also participated