Realty Bill may not impact organised players adversely:Elara Cap

Speaking on the impact of the Realty Regulator Bill that was passed yesterday, on existing realty players, Adhidev Chattopadhyay, Real Estate Analyst at Elara Capital says organised players who have already have approvals in place prior to launch and complete projects on time would continue to do well and attract buyers. However, the smaller players or unlisted ones who do not follow the process would change the way they do business.

However, till the Bill is not enforced it remains under exiting ambit where the only recourse for buyers is to go to consumer court with complaints, so the existing problems will continue for some more time, says Chattopadhyay.

Also there needs to be further clarity on what will happen to ongoing projects, which are the tune of 900 million square feet and majority of those are delayed by couple of years, says Chattopadhyay.

The house is still upbeat of players like Oberoi Realty, Godrej Properties from Mumbai and Sobha, Prestige Estates and Brigade Enterprises from Bangaluru.