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- Buddy... 100% FDI is already allowed in Indian Real Estate as long as projects satisfy certain reasonable criteria...CommentQuote0Flag
- 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.CommentQuote0Flag