HomeContact Site map   Google    www    iipm think tank
   
   
  Home > Scrutiny > National Issues > Khoslas without Ghoslas   
   
     
   Case Studies  
       
  Marketing    
  Human Resource    
  Information Technology    
  Finance    
  Strategy    
       
 
     
   Industries  
       
  Steel    
  Glass    
  Banking    
  Prophylactic    
  Auto    
  Hospitality    
  Energy    
       
 
     
   Other links  
       
  IIPM    
  Planman Consulting    
  Planman Marcom    
  Planman Technologies    
  Daily Indian Media    
  Planman Financial    
  4P's Business and Marketing    
  Business and Economy    
  The Daily Indian    
  The Sunday Indian    
  Arindam Chaudhuri    
  GIDF    
  Kkoooljobs    
       
 
  
         
National Issues
  
P R O P E R T Y  : D E A L E R S

Khoslas without Ghoslas
Regulation is required in the housing sector that thrives on cheats

   YKhosla ka ghoslaou saw the movie and laughed. Many Indians have experienced the movie, and cried! Despite all the talks on the booming housing sector in the country, it remains one of the most unregulated markets, with buyers falling prey to extremely organised gangs of property dealers and cheats, who deal in selling property with fraudulent registration papers. It's distressingly deplorable that almost no safeguard exists for the common man against such cheats in the property market. That sense of insecurity, for a common man, unfortunately exists in a sector that is not only considered to be the second largest employer after agriculture, but is approximately growing at around 30% per annum. Also, the housing sector contributes around 5% to the GDP and is likely to contribute up to 6% in three to four years.

Consider also the tremendous demand the housing sector has - the Tenth Five Year Plan estimates a shortage of around 22.4 million housing units in the coming years. And as millions of housing units would be needed in the future for the needs of the middle and lower income group families, steps are urgently warranted for safeguarding the interests of the consumers here, primary being changes in the archaic laws that have been in place. The age-old Rent Control Act, Urban Land Ceiling Act and most bureaucratic governmental control have ensured the mushrooming of manipulators and middleman.

For the sector to reach its legitimate height, it is necessary that regulation is established out not only on property dealers, but also on private construction companies whose records on keeping the promises while building flats have seldom been up to the mark. But of most compelling need is to provide prospective buyers with a one window clearance mechanism where they could check the authenticity of the housing papers.



  
 
 
       
Home | Scrutiny | Publications | About us | Contact us
Copyright @2010 iipm think tank. All rights reserved.