A STUDY OF HOME BUYER'S AWARENESS ON REAL ESTATE REGULATION & DEVELOPMENT ACT (RERA) IN CHENNAI CITY, TAMILNADU, INDIA

摘要

Real estate sector plays a catalytic role in fulfilling the need and demand for housing and infrastructure in India. A recent report released by real estate global consultants Cushman & Wakefield reveals that the urban housing demand in India is set to grow nearly 15 million units by the end of 2019.This study visualizes the home buyers awareness and knowledge level towards Real Estate Regulation Act while making purchase decision. The study is limited to Chennai city with sample size of 150 respondents. Descriptive research design is used and survey was conducted by using structured questionnaire. Data was collected and analyzed using statistical tools like percentage analysis and chi-square applied by SPSS 16.0. the study found that majority of the respondents are aware on RERA but their knowledge is limited based on their demographic profile. This new legislation is definitely a step in the right direction and is expected to remove the chronic Issue of late delivery of projects, eliminating not so senior players from the business.