On what basis are Real Estate prices fixed in India? Will the upcoming Real Estate (Regulation & Development) Bill regulate prices and benefit consumers?

As rightly said, prices are set by supply/demand. More than controlling prices, the bill seeks to make the industry more ethical and more professional, thus safeguarding the interests of the consumer. The following article explains in more detail, the practices in other countries and what is hoped will be achieved in India by virtue of this bill: http://www.propertyangel.in/blog/how-and-why-should-we-regulate-real-estate-in-india

Real estate prices depend on various factors these includes demand and supply and the scenario in the financial market.most people have sky high expectations from this asset class.for example prices in some areas of the delhi national capital region have risen 600% in the last seven years which comes to a 32% annual return on http://investment.as looking for over all metro cities in india for the next 5-10years down the line annual return will 16%as per reference taken from" the economic times "real estate should not be considered as a short term investment one must invest for long period to make decent gain.

Real estate prices are technically derived from the last sale that has happened in the neighbourhood for similar type of property.On Macro level the real estate prices depend upon many factors like demand, supply, market sentiments, inflation level etc.The RERA Bill does not regulate prices, the focus of the bill is to bring in transparency, accountability and responsibility across government and local municipal bodies, consumers, developer and builders and real estate agents.How will the new RERA bill impact on market- read my article published on http://99acres.comhttp://www.99acres.com/articles/rera-to-limit-new-residential-project-launches.htmlhttp://www.99acres.com/articles/rera-to-limit-new-residential-project-launches.htmlCheers—Dipakk VadehraCo-FounderConnexions Abroad-ISO 9001:2008 Cert. Real Estate Mktg. Co.http://www.connexionsabroad.comhttp://www.connexionsabroad.com