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In the dynamic landscape of Indian real estate, a new trend is emerging—completion-focused projects. This shift marks a significant change in the industry's approach, prioritizing the timely delivery of projects to meet the growing demand for ready-to-move-in properties. This blog delves into the reasons behind this trend and its impact on the market.
The Shift to Completion The Indian real estate sector has witnessed a paradigm shift, with developers and buyers alike emphasizing the importance of project completion. The days of endless waiting and delayed handovers are being replaced by a commitment to timely execution. This change is driven by consumer demand, regulatory pressures, and the need for developers to maintain credibility and trust.
Consumer Confidence and Demand Homebuyers today are more informed and cautious. They prefer investing in projects that are either completed or nearing completion to avoid the risks associated with under-construction properties. This preference stems from past experiences of delays and the financial strain of paying rent alongside EMIs for delayed projects.
Regulatory Influence The Real Estate (Regulation and Development) Act (RERA), introduced in 2017, has been a catalyst for this shift. RERA mandates strict adherence to project timelines and transparency, holding developers accountable for delays. This regulation has instilled discipline in the industry, ensuring that projects are completed as promised.
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