EPISODE SUMMARY
In this episode of Interpreting India, Vaidehi Tandel and Sahil Gandhi join Anirudh Burman to discuss the effect of regulatory reforms in India’s real estate sector on housing prices in Maharashtra. In what context did the Real Estate (Regulation and Development) Act, 2016, emerge? How has this regulatory change benefited consumers? What changes did this Act try to bring in?
EPISODE NOTES
The Real Estate (Regulation and Development) Act was introduced in 2016 to protect consumers who had invested in residential real estate projects from malpractices by real estate developers. After the law was passed, most states established real estate regulatory authorities to register and oversee the conduct of real estate developers.
What changes did this act try to bring in, and how has this regulatory change benefited consumers? Is the increased information about property litigation that the Maharashtra RERA provides affecting housing prices? Does RERA reduce information asymmetry in the housing market?
In this episode of Interpreting India, Vaidehi Tandel and Sahil Gandhi join Anirudh Burman to give us insights into these issues and more. They discuss their recent working paper, co-authored with Anupam Nanda and Nandini Agnihotri. Their study analyses how housing prices change in response to mandatory disclosures under the RERA. The paper is titled, “Do Mandatory Disclosures Squeeze the Lemons? The Case of Housing Markets in India.”
