real estate prices
2010 census tells that 10% of overall households in whole country are empty. Neither occupied by owner nor rented.
This percentage is even higher in cities. If a legislation is crafted which will declare such empty houses as "illegal stocking of goods" and declaring that owner can not keep such homes as it amounts to black-marketing, and that such homes will be "nationalised”, then home prices will go in a tailspin. This will also limit black money in real estate market. Even if a rumour is spread that govt is thinking of such legislation, it will ease the real estate prices. more
This percentage is even higher in cities. If a legislation is crafted which will declare such empty houses as "illegal stocking of goods" and declaring that owner can not keep such homes as it amounts to black-marketing, and that such homes will be "nationalised”, then home prices will go in a tailspin. This will also limit black money in real estate market. Even if a rumour is spread that govt is thinking of such legislation, it will ease the real estate prices. more
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What about investments made by builders? Large scale Govt housing helped by both Delhi and State capitals may help more
May 21
I am all for killing the gross overinflation and housing bubbles. But boy, if we are going to declare having more than one home "illegal stocking", we are really getting communistic here. Essentially, you want to punish the wealthy for having wealth? more
May 21
even taxation policy encourages this !you get tax rebates ! all your black money is used to buy land and while building you get many avenues of spending black.money further and then the buyer of flat gets a rebate ! Great ! How will the poor ever buy ..70 % of flats are bought for investment purposes and allowing FDI here ..is sheer studipidity ..what difference does it make for an NRI to park a crore here..it should be done like the West Asian model or Dubai model..where whatever you wish to do ..have a local partner more
May 21
