Abstract:

The Real Estate (Regulation and Development) Act (RERA) enacted in 2016 in India aimed
to bring about transparency, accountability, and efficiency in the real estate sector. One
critical aspect of RERA is its impact on project timelines and costs, yet empirical evidence on
this aspect remains limited. The purpose of the RERA Act, 2016, is to protect the homebuyer
and increase the investments in the real estate industry. The RERA law is implemented in all
the states to regulate the real estate sector.1This paper investigates the influence of RERA
compliance on real estate project timelines and costs, focusing on the Indian market.

This paper investigates a critical, yet under-researched aspect of RERA: its impact on project
timelines and costs.Using a mixed-methods approach, including qualitative interviews and
quantitative data analysis, this paper examines the experiences of real estate developers in
complying with RERA regulations and the resultant effects on project execution timelines
and financial implications. Drawing upon data from a diverse range of real estate projects
across different regions in India, we assess the extent to which RERA compliance has
affected project completion schedules and overall costs.

Preliminary findings suggest that while RERA compliance has introduced certain
administrative burdens and procedural complexities for developers, it has also led to
enhanced project planning, better financial discipline, and increased transparency in dealings
with stakeholders. However, challenges such as bureaucratic delays, regulatory ambiguities,
and initial implementation hurdles have also been observed, impacting project timelines and
costs.

Through this research, we aim to contribute empirical insights into the dynamics of RERA
compliance and its ramifications for real estate project management in the Indian context.
The findings of this study will provide valuable guidance for policymakers, industry
stakeholders, and practitioners in understanding the implications of RERA regulations on
project execution strategies, resource allocation, and overall market dynamics.

1
RERA: Ensuring transparency and accountability in the real estate sector, May
15,https://www.financialexpress.com/money/rera-ensuring-transparency-and-accountability-within-the-real-estat
e-sector-3088431/