Indian Real Estate Mafia
India is reeling under Real estate mafia. Either sky rocketing prices or land grabbing or double registration. At the end its poor people who are suffering. They pour their hard earned money to invest in the real estate either to build a house or some sort of investment.
Recent years we can see the sky rocketing prices where only few people can afford to buy the property. Builders are hyping the area and thus increasing the prices where a middle class person can't afford to buy. If at all he dares and buys the property, then for the life long he has to indebt to the banks. Builders are making huge profits and the government not at all controlling this mafia. It is a unachievable dream for lower middle class people to own a property. Thus forming a large gap between the classes.
Secondly, investment on buying land is a nightmare. The laws pertaining to buying the land are horrible. There is no survey being done to whom does the land belong before being registered. Also, there is no data in place of previous registrations and thus are vulnerable to double registrations. Once this happens, the buyers can setup his family in court. There is no centralized data of all the land and their owners. There is no planning, infrastructure and law related to real estate. Government is not taking any actions to come up with strict laws towards these mafia.
It is a shame we are living in this situation where government is least bothered about their people.
God save India......