I fully agree with you people supporting a independant regulatory body for controlling real estate business. This would not only regulate greedy builders but also ensure good houses at rasonable rates for everyone.
There should also be restriction on individual possessing property.
RE:Support for regulatory body
by Antony Kuriakose on Oct 29, 2007 07:55 AM Permalink
What are the so called "Law Givers" doing about the reulatory authority and protecting the interests of the buyers? Many of these guys are either involved in construction industry or are being paid off by the Industry. With the building boom around the country, nothing much is being done to protect the poor buyers from the builders. The contracts are totally one sided and builders have no responsibilty to deliver the flats / houses as per the contractual obligations, while any delay in payment by the buyer can lead to stiff penalty!!
