Hyderabad: The Federation of Telangana Chambers of Commerce and Industry (FTCCI) organised a Seminar on RERA: Concerns in Real Estate at its premises in Hyderabad. Aimed at over 250 developers, real estate agents, builders, buyers, legal professionals and industry stakeholders, the event focused on navigating the challenges and opportunities surrounding RERA (Real Estate Regulatory Authority).
Contribution of real estate to the Indian economy stands at $800 million that being a 20 per cent share. By 2047, when India reaches an economy of $33 - 40 trillion, the real estate as a sector will be $6 trillion. These numbers has led the government to recognise real estate as the most important sector, said Sunil Chandra Reddy, president, NAREDCO Telangana. He further added that Real Estate (Regulation and Development) Act is a prime piece of legislation for the real estate in India.
Abhishek Tibrewala, Chair of FTCCI Infrastructure, Real Estate and Smart Cities Committee said that the seminar was organised to walk through new concerns, challenges and opportunities that Rera has brought in the world of real estate. The seminar explored insightful discussions bringing in comprehensive understanding of how Rera impacts the real estate industry, added CA Vinay Thyagaraj.
