CommonFloor, a Quikr company, a leading online ecosystem for home buyers, sellers and real estate professionals along with Karnataka RERA Authority launched the RERA Education workshop series “RERA for you” with an objective to reach out, inform and educate developers and brokers on the recently passed Real Estate Regulation Act (RERA).
The first interactive workshop was held in Bengaluru today with industry experts like lawyers, financial advisors and marketing heads discussing the impact and effects of RERA on the real estate sector and construction industry.
Mr. Pranay Chulet, Founder, and CEO, Quikr saying opened the session with a remark on RERA being a fantastic change for the industry and people at large.
The first session was addressed by Mr. Kapil Mohan, Principal Secretary Housing Department, Govt of Karnataka who said, “Real Estate industry is one of the core sectors that is driving our state’s economic growth. But real estate industry has, so far, experienced a skewed buyer and developer relationship. With RERA act coming into force, this asymmetry on information, relative degree of negotiation, power etc., will be corrected to a large extent.”
This was followed by a session from Dr. Venkatesh Panchapagesan, Associate Professor IIMB and Chairperson Real Estate Research Initiative who said “Growing business post REAR is all about the quality of your projects and the value add it brings to the customers. RERA will only make sure what is promised to the customer is delivered through a transparent process in place.”
The interactive session also saw Mr. Karthik B.M, Partner in Real Estate, Indus Law address the builder community and discuss the RERA policy and its legal aspects.