Business model in Real Estate must change, Builder should be allowed only to sell complete houses

Open Loot is going on in real estate sector. Lakhs of people are stuck in real estate in uncompleted projects. RERA is just Eye Wash by Govt to help builders, so that focus can be shifted from Builders. Why Govt dont make it legal that only finished houses can be sold so that buyers can check actual building and legal formalties before handing over cheque It must be like Builders should hand over keys in completed projects at the time of writing the cheque.. More over most of builders(very few exceptions) including many of top builders are involved in this Loot. If Govt don't change the law(as many politicians are also hand in gloves), buyers must start the practice to buy only in completed projects and avoid all fooling activities by builders to trap home buyers.

 

If it's only completed flats

- prices would atleast double.
- where would investors park their ill-gotten wealth
- the bandwidth of developers would reduce

The clout of builders is huge and most are crooks I agree. That real estate needs a complete overhaul I agree too. Buying real-estate in Noida, Gurgaon and north has always been very risky. But now the trend is widening.

Not sure how real estate funding works - it's pretty murky for sure. but making developers personally liable can be a good idea just like the courts have recently threatened a developer to pay up or face attachment of their personal property.


Not one of my real-estate purchase has been under construction. Have missed out on some wonderful projects in the bargain (price perspective). All my apartments (and hey I don't have numerous ya) have been secondary market deals