The Confederation of Real Estate Developer’s Associations of India held a convocation of its members in London this past week considering the future of India’s Real Estate Industry. The discussion was held regarding the opportunities and scope of the Real Estate sector in Indian as well as foreign markets, especially Britain.
However, the most talked-about issue came out to be the newly imposed Real Estate (Regulation and Development) Act. The main concern was the lack of clarity that the Authorities have provided to the Real Estate Developers and the definition of ‘ongoing’ projects stated in the Act. The delegates demanded that there should be more clarity on the ongoing project registrations and the deadlines to be made flexible.