Secondary real estate is a critical component of the real estate market in India. It accounted for more than 50% of total real estate transactions in India’s two largest real estate markets in 2017-18: NCR and MMR.
However, while the volumes in the sector are high, the transactions are characterised by challenges like lack of trust, no standard documentation process and increasing litigations.
While rationalising the real estate sector is one of the key agendas of the government, the need of the hour is to regularise the secondary market considering its high volumes.
In this survey-based report, we analyse the secondary real estate market in the country and also present key suggestions for the government to make the market more organised, regulated and transparent.