The Real Estate Regulation Act 2016 is one among the various acts and processes the Narendra Modi government has put in place to propel India to the new generation economy.
Since assuming power in 2014, the government is in the process of initiating structural changes, often disruptive: Make-In-India, push towards digital India, demonetization, GST and so on. With demonetization, the immediate and ostensible objective was to root out black money. The other objective, although a collateral one was to give a real hard push to the use of digital money which, in my opinion, would not have had the same success without demonetization. Like we all know, this was done with a much grander and bigger objective in mind: to push India towards a new generation economy that would adopt the best practices of the current genre.
Is this all too much for small and medium businesses to handle today? The answer is yes! An SME in the construction industry is already grappling with a number of challenges: demand slowdown, unsold inventory, demonetization woes, GST and now... RERA. The last one is perhaps the most significant as it impacts significant parts of the workflow on which real estate companies operate. But, it is an opportunity as well, to differentiate, to separate the men from the boys.
We spoke to a number of players in the real estate space and the common thread is of lack-of-clarity on how it would impact them. RERA affects your entire workflow. The many real estate companies we talked about in the SME space are confused and scared, while some are in denial mode.
Here is our message to real-estate companies:
Don't lose your peace, time & productivity over RERA. WE can help you!
Our Ayoga software offers a perfect solution for the SME segment (and big builders too) to become RERA-compliant within the comforts of their own computers, mobile and tablet devices, without having to install new software. There are two components of RERA: one from the buyers perspective and another from the builder's. The various checks and balances of RERA ensures that there is a clear process and a disciplined way of functioning in the business. Every significant action of the real estate company is now recorded and tracked, in a reliable medium.
For a complete list of processes that Ayoga can handle and RERA-enable you, read this post.