Vaidehi Tandel and Sahil Gandhi on How Real Estate Sector Reforms Have Impacted Housing Prices

<p>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. </p><p>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?</p><p>In this episode of Interpreting India, <a href="https://sites.google.com/view/vaidehitandel/home"><strong>Vaidehi Tandel </strong></a>and <a href="https://sites.google.com/view/sahil-gandhi/home"><strong>Sahil Gandhi</strong></a> join <a href="https://carnegieindia.org/experts/1659"><strong>Anirudh Burman</strong></a> 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.”</p><p><strong>Episode Contributors</strong></p><p><a href="https://sites.google.com/view/vaidehitandel/home"><strong>Vaidehi Tandel</strong></a> is an economist working in the areas of urban economics, political economy, and public finance, with a focus on India. Currently, Dr. Tandel is a lecturer in real estate and urban economics at the University of Manchester, UK. Her research has been featured in <i>The Financial Times</i>, <i>The New York Times</i>, <i>The Straits Times</i>, <i>Livemint</i>, and others. Her papers have been published in the <i>Journal of Development Economics</i>, the <i>Journal of Urban Economics</i>, the <i>Journal of Regional Science</i>, <i>Environment and Urbanization</i>, <i>Cities</i>, and <i>BMJ Open</i>, a