Categorized | International

Lack of Transparency in Indian Residential Real Estate

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It is evidently observed that many consumers from foreign lands avoid indulging in transactions of residential real estate of India. They ascertain the cause of behavior to lack of transparency amongst builders and related transactions. They are of view that the money invested by them here will be misused or will be permanently seized from them. The reason behind this they govern to the corruption that has affected this area of real estate. It is seen that many builders simply fool around in order to get the money by wither proposing fake properties or admitting hidden clauses in the agreements that will require the investor to pay more than agreed. This issue is disturbing the government and they are advising builders to work towards gaining the confidence of abroad clients.

Due to difference in currency, many clients were used to be interested in residential investments on lands of India but as new cases are foaming up they are concerned and avoid getting into the spell.

They also claim to be following common complaints or reviews written about popular builders around the region which has one or two similar cases every week. As a repair measure, experts are suggesting developers to enter online media in order to build the much needed transparency between investors and developers. This will help them to communicate with the oppressive clients to build stronger relations and trust. Another option they are suggesting is to advertise the true beneficiaries of their projects and held interviews of such people that have found true source for investment. They can publish contact details of the experienced clients to move step further on the confidence levels.

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About Nancy Raven

Nancy is the main writer for the International section of the website. Sometimes she also helps Drew out on the Finance/Mortgage section as well.

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