“Real estate cannot be lost or stolen, nor can it be carried away. Purchased with common sense, paid for in full, and managed with reasonable care, it is about the safest investment in the world.” – Franklin D. Roosevelt (Former U.S. President)
An increase in urbanization and with the dawn of globalization, there has been a significant growth of the real estate sector. The real estate sector is now considered to be one of the most globally recognized sectors. The companies in this sector comprise of four sub sectors: housing, retail, hospitality, and commercial. The Indian real estate sector has observed high growth in recent times with the rise in demand for office as well as residential spaces. There has been a high demand for office space by IT, retail, consulting and e-commerce sectors. Retail, hospitality and commercial real estate are also growing significantly, providing the much-needed infrastructure for India’s growing needs.
In between 2009-18, this sector absorbed institutional investments worth US$ 30 billion. Private Equity and Venture Capital investments in the sector reached US$ 4.47 billion in 2018 and US$ 546 million in Jan-Feb 2019.
The Government of India along with the governments of the respective states has taken several initiatives to encourage the development in the sector. The most marked change has been the shift from family owned businesses to that of professionally managed ones. Real estate developers, in order to meet the growing need for managing multiple projects across cities, are also investing in centralised processes to source material and organise manpower and hiring qualified professionals in areas like project management, architecture and engineering.
The landmark legislation passed by the Government of India in May, 2016 , Real Estate (Regulation and Development) Act, 2016 (RERA) is for the advancement of real estate in India. The eminent scheme of the RERA Act is to refine the Indian real estate sector, by encouraging greater transparency, accountability and financial discipline. Niranjan Hiranandani, the National President of National Real Estate Development Council has praised the RERA Act in his words, “RERA has ushered in transparency and accountability in the sector and has set an example for other regulatory bodies. It has instilled confidence and trust among the buyer community.”
This sector is becoming boundless and the need to learn and understand the fundamentals of it is elevating. It is expected that the real estate sector will reach a market size of US$ 1 trillion by 2030 from US$ 120 billion in 2017 and will contribute 13 per cent of the country’s GDP by 2025.
Enhelion Knowledge Ventures Private Ltd. offers a comprehensive course on RERA laws, ‘Certificate Course in RERA’. The course has been designed along with one of the top commercial law firms Scriboard Advocates and Legal Consultants and covers the crux of the act.
It has been divided into various modules in order to facilitate better understanding of the law. The modules include the basics of the real estate sector, the regulatory authorities covered under the act, the procedure required to be complied with, the tribunals covered by the act and other important provisions. The exclusive feature of the course offered by Enhelion is that is self-paced and is timely mentored by experienced professionals. The course has been drafted ultra-carefully for students to thoroughly understand the foundation and governance of this act.
After the origin of the RERA act, the real estate sector has become more legalized and the demand for legal professionals is increasing every day. The real estate sector is in the nascent stage of development because of which it offers fresh opportunities to young professionals for them to carve out a promising career.
For more details on our Online Certification Course on RERA Contact Us or write to us on info@enhelion.com