From the Zamindar system to RERA.

The system of landholding and earning revenue through it is called the Zamindar system. This system in India has been followed for ages and is still in practice but in a modern and unregulated manner.

As India has perpetually been a populated nation, the demand for properties and real estate never fell. The Real Estate Industry witnessed a huge upturn after the introduction of LPG?(Liberalization Privatization Globalization) in the 1990s.

Economic Globalization opened new avenues for various Multinational Companies and numerous investments were welcoming the foreign market and investors. All this led to a rise in the migration rate for individuals to experience urban living. The rate of urbanization climbed from 23.34% in 1980 to 25.72% in 19191. As a result, the rise in the nuclear family establishment accelerated the demand for Residential properties. Also with the growing promotion of entrepreneurship in the economy the eye-catching rise in commercial spaces is seen.

To manage the peak in the demand for real estate became necessary.? Hence, the Government played a huge back support for the industry.?

The Central Government established :

• The Housing & Urban Development Company in 1970.
• City & Industrial Development Corporation in 1971.
• National Housing Bank in 1988.

In 2014, the establishment of REITs (Real Estate Investment Trusts) gave a huge place to limited-budget investors. When you indulge in Real Estate it is necessary to understand and utilize the benefits of REIT. REITs are companies that own, operate, and finance other income-generating Real Estate. REITs also look after the investors and help them earn dividends through Real Estate.

On 1st May 2017. The government introduced RERA* TO REGULATE The Real Estate Industry. Real Estate Regulatory Authority RERA promotes transparency in the Real Estate Industry in order to eradicate the scams and frauds happening in Real Estate Investment.