Real Estate Regulatory Authority of India has already started showing its effect. RERA policies have made it mandatory for the builders to deliver the projects on time. If not delivered on time, they will be penalized and may have to face imprisonment too.
While various residential markets across the country showed 7% growth in property sale, new launches in NCR dropped by 41% in the first half of 2016. This is because developers are now busy completing the existing projects to meet the deadline. A steady growth is registered in Greater Noida and Gurgaon projects in which 80% of total projects were launched.