Anuj Puri, Chairman – ANAROCK Property Consultants Pvt. Ltd.
Real estate development remains a highly lucrative business line, which is why most builders retain skin in the game even in the face of strong market headwinds.
However, real estate development also remains a highly capital intensive business, and among the many new market truths that RERA has brought to the fore, the fact that only well-capitalized players will endure going forward stands out.
The ‘time-honoured’ practice of raising funds from the market via ‘pre-launches’ has now become untenable.