ROLE OF RERA IN IMPROVING DEMAND FOR AFFORDABLE HOUSING

The Real Estate (Regulation and Development) Act”, more generally referred to as RERA, has emerged as a revolutionary force in the real estate industry, especially in terms of strengthening the demand for housing that is cheap. The purpose of this essay is to investigate the critical role that the Real Estate Regulatory Act (RERA) plays in transforming the dynamics of the real estate market, with a particular emphasis on improving the accessibility and attractiveness of affordable housing alternatives. A substantial contribution to the rise in consumer confidence has been made by the “Real Estate Regulatory Authority (RERA)”, which was established to protect the interests of purchasers and to promote openness in the real estate market. “The Real Estate Regulatory Authority (RERA)” imposes severe rules and mandated disclosures, which result in developers being required to stick to timetables, reveal project information, and maintain financial discipline. It is not just the reduction of risk for purchasers that results from this openness, but it also helps to establish confidence in the real estate market.