Corruption in Real Estate - Inputs on Solutions
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Transparency Internation India
Corruption in Real Estate – Root Causes
1. Politicians use their power and influence to make illegal money
2. Builders support the politicians financially in their campaigns
3. Instead of spending huge amounts in making the buildings safe, the builders spend a small amount to bribe the officials to get the certificates
4. Builders try to extort as much money as possible from the needy buyers
5. Needy buyers get fooled by the builders through fake paper work
6. The Government systems lack technological upgrades
7. There is too much human interaction with the departments which allows room for bribery
8. Cash transactions are still legal in real estate business
9. The Government regulations on real estate are opaque
10. Many transactions are done through hawala money
11. The corrupt are never caught and penalised. more
MORE INTERESTNG. ALLERGAN INDIA LIMITED WHO IS IMPORTING AND SELLING COSTLY EYE DROPS, I ORDRED TWO BOXES AND ONE BOX COSTS RS.1980/= AND FOR TWO BOXS OFFER ONE BOX FREE AND I CALLED THEM AND GAVE THE COUPON CODE AND YESTERDAY I GOT THE PACKET AND TO MY SURPRISE IT IS "PHYSICIANS SAMPLE NOT O BE SOLD" AND IT IS UN EHTICAL AND CHEATING THE MEDICAL FRATERNITY, PATIENTS AND GOVERNMENT DEPARTMENTS AVADING EXCISE DUTY AND TAXES. I HAD INFORMED THE PHARMACEUTICAL CO. BUT NO RESPONSE.