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Real Estate Industry Opened to Competition & FDI

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Real Estate Industry Opened to Competition & FDI

Last updated: February 24 2013
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  • Real Estate Industry Opened to Competition & FDI

    If there is one industry that should be opened to competition and FDI, it is the real estate industry. Let Honorable Builders compete with the best and prove their worth. Of course it may (will) never happen.

    And, backed by a robust Law and guidelines, prompt and quick response of the system and strict monitoring of Money flow in any real estate transaction will go a long way in providing a respectful and best life to the End Users (and also to investors)..............

    But, I feel, this may/ will never Happen in INDIA...... Even we also don't know the potential in this sector if the so called 'black/ cash component' is removed.

    till then, it is a Win-Win Game for some serious players.....

  • #2

    #2

    Re : Real Estate Industry Opened to Competition & FDI

    Buddy... 100% FDI is already allowed in Indian Real Estate as long as projects satisfy certain reasonable criteria...

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    • #3

      #3

      Re : Real Estate Industry Opened to Competition & FDI

      The real estate sector needs regulation and stricter norms:
      1. Approvals, process and documentation MUST be very transparent to buyers.
      2. Builders MUST complete projects and handover to buyers within 3 years of land acquisition. Strict penalties of upto 20% of project value in case of delays.
      3. Real estate brokers and agents must be Certified and have minimum CA/CFA...type accreditions
      4. Banks that support the project should NOT be allowed to give loans to buyers due to conflict of interest.
      5. Builders MUST declare all transactions whether investor or end user by law. Transacted prices MUST be available online for all potential buyers or investors to see.
      6. 2nd or 3rd or higher property purchase must attract higher interest rates, larger down payments, higher stamp duties and VAT.

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