Mumbai: The proposed Real Estate Regulation Bill spells bad news for errant developers, but will be beneficial for real estate companies execute their projects on time, says brokerage house JP Morgan.
“We believe the key beneficiaries of this will be developers which have a consistent track record of executing projects on time, such as Prestige Estates, Godrej Properties, Sobha Developers and Oberoi Realty,” says the JP Morgan note to clients
According to the brokerage, Mumbai will be the market that will be the most affected as norm violations have been at a maximum in the city, with delays and customer grievances being at an all-time high.
“Bangalore will be the least affected, in our view. NCR, too, will likely take a hit on account of the new regulations, but the impact should be lower than in Mumbai as project registration before launch is mandatory in Gurgaon and Noida,” says the note, adding that project delays even in NCR have been unacceptably long.