RERA has played a key role in formalisation of India's residential real estate sector. Improved financial discipline, enhanced transparency and stronger consumer safeguards have supported better execution outcomes and increased consolidation. However, implementation effectiveness continues to vary across states. 

• Real Estate (Regulation and Development) Act, 2016 (RERA) has accelerated the formalisation and institutionalisation of India’s residential real estate sector through stronger transparency, financial discipline and consumer protection.
  
• Sector outcomes indicate a structurally stronger operating environment after implementation of RERA.
  

Source: ICRA Research and PropEquity