Transparency, trust, time must: Former chief MahaRERA

NEW DELHI: Real estate developers should inculcate “transparency, trust-building and time adherence” as envisaged under the RERA Law for the growth of this industry,” said Gautam Chatterjee, former chairman of MahaRERA. He was speaking at a webinar organised by NAREDCO, on the occasion of completing 24 years and entering the silver jubilee year. Chatterjee, who was the founder chairman of Maharashtra Real Estate Regulatory Authority (MahaRERA), noted that there has been a paradigm shift in the sector with the enactment of RERA Law in 2016. The Real Estate (Regulation and Development) Act 2016, known as RERA, has formalised the sector and brought it under a much needed regulatory framework. He noted the sector has bounced back after the second wave of the COVID pandemic and there is renewed investors interest. “But the interest is especially in projects that are led by trusted developer implying that trust is a key factor that can shape decision making of the customers going ahead,” Chatterjee said.