RE:RE:A good
by Navin Gupta on Nov 06, 2007 06:15 PM
I Think What Girish is saying is correct. We are paying huge money to buy the houses that are not good in quality and often pay money unknowingly towards taxes like service tax, Sales Tax (laughable thing since no builder probably pays anything to the taxation authorities). If you compare global house pricing, especially Europe and US, we pay almost equal or 50% (London for example) but we earn 10-20% of global incomes. Infact, the best thing would be to have a regulatory body but how much will it help in a country that tops the corruption index in the world - we will have to wait and watch. If we have to do something, probably there has to be a website that will rate the builders and each flats they construct by the Buyers. Every buyer should buy a flat only based on Ratings from this website. That should really scare a lot of builders off since they will not be able to sell without having a good reputation (E-bay funda). Cheers. NG
