Economy & Market

RERA Rears Up

Published

10 years ago

January 31, 2017

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The Real Estate Regulator Bill (RERA) came into force on May 1st, 2016. It is a path-breaking regulation for home buyers.

T he RERA Act, 2016, is expected to be one big change for the housing sector in 2017. It seeks to empower all stakeholders engaged in the business and consumption of real estate.

According to a recent report from PropTiger Datalabs, many states such as Tamil Nadu, Karnataka, Delhi and Maharashtra have finalised the draft rules under the RERA Act; other states will join the league this year. The Central government has also notified the final rules for five Union Territories: Andaman and Nicobar Islands, Dadra and Nagar Haveli, Daman and Diu, Lakshadweep and Chandigarh.

"With its absolute implementation," Pradeep Aggarwal, Chairman, Signature Global, says, "the sector will become more disciplined and organised, reinforcing the credibility of real estate as a whole." Pointing to the flip side, CN Raghavendran, Managing Director, CR Narayana Rao (Consultants), says, "Problems faced by developers, including multiplicity of approvals and lack of adequate funding avenues, continue to remain unaddressed in the Act."

Hence, while many in the industry are optimistic about RERA, there is a degree of pessimism too. As Rohit Gera, Managing Director, Gera Developments, explains, "RERA is different for different people at the developers’ end." He explains, first, the builder has to upload all the information on the website. But many builders are victims of "political terrorism", as he calls it, by a local operator. They are blackmailers who tie up with industry stakeholders, have RTI activists in their groups and threaten developers. Second, there are inherent risks of approval, title, labour shortage, material shortage, strikes, imperfect quality control, etc., which lead to delay in possession.

To date, the consumer has been bearing the risk of the commitment (project completion date) the developer makes. What if the government now says the creditor must bear the risk and not the consumer? Now, the developer is okay with taking the risk, but does the market have the ability to pay for that risk being transferred to them? What impact would this have on cost structure and profitability? And, thirdly, one of the financial models in real estate is the joint development model. So, the builder offers the landowner 20-30 per cent of the profit of the proceeds of the project instead of the land. This serves as a win-win situation for both; the builder pays a small deposit to the landowner, puts his board on the site, and as he starts selling, he pays the landowner and for the approvals.

– SHRIYAL SETHUMADHAVAN

Box RERA Highlights

The Act requires compulsory registration of the property and the developer;
The registration must be done before the developer can advertise, market or sell;
The Act devices a mechanism wherein the RERA can initiate investigations into the affairs of any builder not only upon receipt of a complaint from buyer but also by a suo moto action.

Pros:

Increases credibility of project delivery;
Increases transparency;
Regulates broker environment;
Visibility of the developer track record;
Emphasis on financial discipline;
All project details in disclosure.

Cons:

Not all states have notified the draft rules; possible delay in implementation;
Not applicable on projects of less than 4,000 sq m;
Absence of responsibility for timely plan approval for projects.

Source: PROPTIGER DATALABS

Concrete

Fornnax Wins AIRIA’s Special Export Award for Rubber Machinery in 2025-26

Published

1 day ago

October 19, 2026

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Fornnax Technology Pvt. Ltd. has been honoured with the Special Export Award – Rubber Machinery for 2025–26 by the All-India Rubber Industries Association (AIRIA), in recognition of its highest exports of tyre recycling plants to the European region.

With more than a decade of experience in India’s tyre recycling industry, Fornnax has contributed to the development of advanced recycling technologies and infrastructure. The company currently holds a 90% market share in India’s domestic tyre recycling sector, while exports account for 30% of its business, spanning markets such as Europe, Australia and the GCC.

The award marks another milestone for Fornnax, whose tyre recycling lines and advanced shredding technologies are supporting the growth of the circular economy in India and international markets.

Commenting on the recognition, Mr. Jignesh Kundaria, Founder and Director of Fornnax, said:

“This honour from AIRIA is a reflection of an incredible journey we have undertaken over the years. When we started Fornnax, there was no established recycling industry in India to follow. We chose to build for the future instead. Today, when you see India’s tyre recycling sector, it has already transformed into a dynamic, high-growth industry and we are extremely proud to have played our part in building it.”

Unlike standalone equipment suppliers, Fornnax focuses on developing complete, high-capacity recycling infrastructure. Its integrated systems combine multiple stages of shredding and size reduction to enable efficient, continuous operations. This system-level engineering approach helps recycling operators improve throughput, equipment reliability and operational consistency.

The recognition reinforces Fornnax’s commitment to developing engineering technologies that contribute to a more efficient and circular recycling ecosystem.

Looking ahead, the company aims to expand its international presence while continuing to develop advanced shredding and recycling solutions to address the growing volumes and evolving requirements of the global recycling industry.

For more information, visit: www.fornnax.com

Concrete

Wonder Cement appoints Mahesh Singh as VP Corporate Brand Communication

Published

2 weeks ago

October 9, 2026

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Singh brings 20+ years of brand and marketing experience, and will lead integrated corporate brand communication initiatives at Wonder Cement

New Delhi

Wonder Cement, a leading cement manufacturer, has appointed Mahesh Singh as Vice President – Corporate Brand Communication. In his new role, he will oversee corporate brand strategy and communication, including digital and performance marketing, public relations, trade, events, exhibitions, sports and experiential marketing.

Singh brings over two decades of experience across marketing and communications, with roles spanning the automotive industry, agencies and entrepreneurship. He spent more than a decade with Honda Motorcycle & Scooter India, working across integrated communication, media, digital, retail and consumer engagement. His stint also included helping build the company’s digital marketing capabilities.

He moved to dentsu X India as Vice President – Strategy & Planning, working across categories such as automotive, auto components, electric vehicles, FMCG, consumer electronics, BFSI, apparel and brand consulting. His responsibilities included media and marketing strategy, product launches, content, performance marketing and consumer activations.

Singh subsequently took an entrepreneurial route with Radiant Brands before joining Shriram Ltd (SPR Autotech) as Head – Marketing & Communications. There, his remit included brand and corporate strategy, communications, PR and ORM, retail identity, loyalty programmes and events.

At Wonder Cement, Singh will be responsible for bringing together the company’s corporate brand communication initiatives across digital, performance marketing, PR, trade, sports and experiential platforms. The role will focus on creating an integrated approach to communication across consumers, trade partners and other key stakeholders.

The appointment brings to Wonder Cement a marketer whose career has spanned the brand, agency and entrepreneurial sides of the communications ecosystem.

Wonder Cement, part of the RK Group, is a cement manufacturer with roots in Rajasthan and a focus on quality, trust and transparency. The company has grown to six manufacturing plants, and a cement capacity of 21.5 MTPA. With more than 2,000 employees and a network of over 5,000 dealers, its operations span manufacturing, distribution and customer engagement, with a focus on consistent product quality and efficient execution.

Concrete

JSW Cement commissions additional 1 MTPA grinding unit at Nagaur

Published

2 weeks ago

October 8, 2026

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With this commissioning, JSW Cement’s total cement grinding capacity has increased to 25.10 MTPA,
Mumbai

JSW Cement, one of India’s leading green cement producers and part of the diversified JSW Group, today announced the successful commissioning of an additional 1.00 MTPA cement grinding unit at Nagaur, Rajasthan. The commissioning marks another significant milestone in the Company’s growth strategy.

With this commissioning, JSW Cement’s total cement grinding capacity has increased to 25.10 MTPA, while its total clinker manufacturing capacity, including clinker capacity at its joint venture, JSW Cement FZC, stands at 9.74 MTPA.

JSW Cement had commenced operations in North India in March 2026 with the Nagaur Integrated Plant, comprising a 3.30 MTPA clinkerisation unit and 2.50 MTPA cement grinding unit. With the commissioning of the additional 1.00 MTPA cement grinding unit, the plant’s total cement grinding capacity has increased to 3.50 MTPA, enhancing the company’s ability to cater to the growing cement demand across Rajasthan, Haryana, Punjab and the National Capital Region (NCR). The expansion has been funded through a strategic mix of equity and long-term debt.

During the quarter ended 30th September 2026, JSW Cement has also commissioned the Alternate Fuel Handling System and the Waste Heat Recovery system (WHRS) at the Nagaur Integrated Plant.

Nilesh Narwekar, CEO, JSW Cement, said: “The commissioning of additional 1.00 MTPA grinding capacity at Nagaur is a key strategic priority for us and will accelerate JSW Cement’s expansion into North India. We look forward to servicing the growing needs of the region and contributing to the economic growth of Rajasthan, Haryana, Punjab and the NCR area. I am delighted to share that the company has commissioned this grinding unit within the expected timeline, showcasing our project execution capabilities. Further, the Alternate Fuel Handling System and the Waste Heat Recovery system (WHRS) are expected to substantially reduce our production costs going forward.”