Property prices may come down by 20% if corruption reined in
I shared this in Property circle of Delhi but its probably more relevant here.
It is probably good news for people like me who are looking at buying a property next year but not sure if tis good for existing owners.
MUMBAI: Rooting out corruption could help lower home prices by as much as 20%, said Deepak Parekh, chairman of Housing Development Finance Corp, India's biggest mortgage lender, putting the blame for graft in the system on errant bureaucrats and faulty policies.
"Corruption is rampant in the sector. There is multiplicity of approvals and at each approval stage if you have to pay, the ultimate product is going to be more expensive. As buyers, we are paying for it," Parekh said in an i ..
Read more at: http://economictimes.indiatimes.com/articleshow/27808098.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst more
I was talking to a family friend (much older than me) who resides in Defense Colony. Per them cleaning up of political money from the real estate system in Delhi can do wonders. Same thing in Noida and Gurgaon. Arvind Kejriwal should focus on it rather than trying to spend time on how corrupt previous Government or opposition party was. more
I welcome the low property prices because of no corruption. more
Sir I completely agree with your write up, here I also join with you and AAP to promote such type of confidence with early compliance of their legitimate need. Also join to appeal common people to join hands and provide support, moral to the Government of Delhi. R K PATEL more
Dear Vijaya, You have a good thought. But we/our Delhi govt needs to work on grass root level with immediate effect which directly concerned to AAM ADMI. such as corruption by category B level bureaucrats in MCD, JB, etc. including law and order. If we all of us are united against any evil then no one can stop us to make a corruption free, rape free, riots free nation. Thanks Shaan more