Title Insurance In India: An Opportunity Awaits…

Under RERA, the promoter of a real estate project is obliged to obtain the requisite insurance policies required to secure the development of project and insurances as may be notified by the government.

The lack of transparency and uniformity in the Indian real estate market has done little to entice insurance companies from tapping into lucrative land deals and developing insurance products for the real estate sector. Due to the complexities involved in property devolution, lack of proper legal framework and the poor track record of real estate developers, insurance companies have been skeptical about their long-term business returns in what has proven to be a volatile industry.