aragorn

The realty bubble is just hyped and it will also go the way soon...the builders are greedy and the unorganised nature of this sector is a major aid to them. Why can't the govt step in and create statutory guidelines with respect to how area/ floor space should be calculated, charges that can be levied and clear information available to buyers in terms of facilities and amenities. I guess the only transparency available to the buyer right now is what lies beneath when they sell their clothes to pay home loans.

geeee

It's a fr33 market. The builder is fr33 to quote whatever price he likes and the buyer is fr33 to walk away if he doesn't like the price. Why should the government step in ? That's how real estate works almost everywhere and that's how it should and will work in India. If you can't afford to buy a house, too bad for you. If your convinced its a bubble then stick to your conviction and wait for the bubble to burst. Real Estate bubbles have existed in the past and will continue to exist in the future, the government has no role in identifying them and correcting them.

Kimmig

Then by that same logic why is the builder lobby asking the Govt for alms time and again?? Pressuring the Govt for sops, soft loans, FSI increases, industry status etc etc .. unka khoon khoon .. hamara khoon paani??
Anyways, the congi govt does not care abt middle class people .. the lower class folks are already making merry squatting on public land and then making 2 Cr a piece for a Jhopdi in BKC .. Jay ho

People are seeking intervention because homes in India have gone beyond the means of a common middle class person .. salaried or businessman alike .. that's the reality my friend .. most people cannot get a home without taking a liability of a huge EMI for 20 years .. who do we work for .. the banker? builder? or for our families?

jia001

It is the thing about capitalism. Like Banks, like telecom players, like airlines, like stock markets, Real Estate too needs a regulator.
An agency that will set guidelines for fair practice. (e.g. selling as per carpet area, ensuring clear land title, committing to amenities, fine on missing completion date, ensuring conveyance, etc.)
I think the Govt-Builder nexus is preventing such a regulator to become a reality. We should all form a group together and lobby for such a regulator.

boldm28

looks like you just got out of college and that reflect in the way you put things .I for one do not want to government to help me but they can have certain guidelines and the builders should follow it , just as in any other countries the market is not controlled by the government there are laws just like any tom dick harry cannot be a real estate agent . here in India everybody is a real estate agent including the shopkeeper , the rikshawala you name it and they are part time agents , assuming everybody is doing that for profit the actual seller is lost in a sea of agents . The governments job is regulate the market if they have given permission to a builder only then can start a project what about water and electricity connection (infrastructure) all this should be clear black and white .

aragorn

The real estate/stock markets and the elections are all linked. Every political party tends to invest it's money when in power in these sectors to recover the costs incurred in elections. Always the prices surge in the first couple of years of power and tend to dip before the election, last year was an exception as recession also played it's part. A regulator in real estate as rightly pointed out by my friends will definitely help in controlling unchecked prices and will also help buyers seek out genuine builders. I think everyone knows that the realty prices in Mumbai and surrounding suburbs are overhyped...what do places like Panvel/Virar and Vasai have to quote 3000+ prices?

jason86

Hmmm ... and I thought we live in a democracy ... Asking the government that is representative of me, (appointed) by me, for me to safe gaurd my interests as a productive participant in the economy (read: one whose tax is cut at source every month!) .. shouldn't be encouraged? Then why do we need a democracy? Lets accept a fascist rule dictated by the elites. What governs a fr33 market?

jason86

I was born and brought up in Mumbai's middle class housing society which has 30 flats. The 30 members never in my life time have agreed for a mutual benefit ... never united for a common cause ... and the same analogy can be used for the people of a state.

boldm28

I live in a building which has 16 members together .two or three flats are rented so that brings it down to 12 people and we cannot decide if we want to cement the walkway . everyone keeps telling me that it is waste of money and also tht they do not have enuff money but still i see a brand new chevy spark , a zen estillio and they belong to the same members , we cant even agree to plaster the building which is more than 20 yrs old people are concerned only about their side as if the BMC is going to let them live even after the other side collapses and none of them are old school , i am taking about people from the age group of 30 to 55 yrs