Corruption in Real Estate - Solutions for Key Issues
Corruption in Real Estate - Solutions for Key Issues
1. Politicians take bribes from the builders to get them land allotted
Demonetize so that no bribe can be paid in cash.
2. Huge bribes are paid to change land use or to get permissions to construct residential or commercial buildings
As above.
3. Builders bribe the officials to get the safety certificates
As above.
4. In the name of charging for super built area, every buyer is forced to pay considerable amount of money in excess of what actually is the cost
Super built up area means the buyer is paying for common amenities which includes compound area, staircase area, car porch etc. There is nothing wrong in that.
5. Buyers are required in most cases to come up with cash/black money to buy real estate
All payments to builder through cheques only.
Demonetize to stop black money circulation.
6. In some cases the housing complexes are built on land with dubious papers/forged papers in connivance with the officials/political power
Bribe is the incentive for this. Stop bribery by demonetizing.
7. Several housing plots are illegally occupied and sold again with fake photo and papers
Real Estate Regulatory Authority already formed to control this.
http://timesofindia.indiatimes.com/business/india-business/Cabinet-clears-creation-of-real-estate-regulator/articleshow/46843176.cms
8. In 90%+ cases one has to pay bribes at the property registrar’s office
Solution 1 above
9. Government/Public Land is encroached bribing the entire system and muscle power and then sold at premium price.
Solution 1 above. more
1. Politicians take bribes from the builders to get them land allotted
Demonetize so that no bribe can be paid in cash.
2. Huge bribes are paid to change land use or to get permissions to construct residential or commercial buildings
As above.
3. Builders bribe the officials to get the safety certificates
As above.
4. In the name of charging for super built area, every buyer is forced to pay considerable amount of money in excess of what actually is the cost
Super built up area means the buyer is paying for common amenities which includes compound area, staircase area, car porch etc. There is nothing wrong in that.
5. Buyers are required in most cases to come up with cash/black money to buy real estate
All payments to builder through cheques only.
Demonetize to stop black money circulation.
6. In some cases the housing complexes are built on land with dubious papers/forged papers in connivance with the officials/political power
Bribe is the incentive for this. Stop bribery by demonetizing.
7. Several housing plots are illegally occupied and sold again with fake photo and papers
Real Estate Regulatory Authority already formed to control this.
http://timesofindia.indiatimes.com/business/india-business/Cabinet-clears-creation-of-real-estate-regulator/articleshow/46843176.cms
8. In 90%+ cases one has to pay bribes at the property registrar’s office
Solution 1 above
9. Government/Public Land is encroached bribing the entire system and muscle power and then sold at premium price.
Solution 1 above. more
Viewed by 28
In a country where more than 90% politicians and government officials are corrupt how many of them will you punish. In this corrupt situation who will punish them. So the solution is not punishing but creating an atmosphere where none can accept and give bribes and that is demonetization and creation of cashless society. more
Sep 19
Mr. Jayakrishnan, you're quite right making a partial list of facts. At point #8, what you have stated is about 10% short of the reality! An effective solution would be punish the guilty officials (including ministers) by attaching their entire family assets (movable and immovable) to the state exchequer and dismissing all their relatives holding public office for ever! It's so unfortunate that judges with criminal record of grabbing public land are still in office! A funny system indeed that we need only a few Kalki or Narasimha Avathars together to root out ever increasing white collar criminals! more
Sep 19
What is worse, Mr. Jayakrishnan, higher officials holding the rank of DRO in registration dept collude with real estate criminals to illegally transfer the deeds using their authority; administration, police and the judiciary are only silent spectators! more
Sep 19
