Home sweet home: Own it early and reap the benefits later
Unfortunately, every major scam in the country during the past few years has a real estate component. May be because the investments are high and the regulations are poor to stop such scams in the real estate sector.
Adarsh happened because retired Army men and babus could not muster the will to give away a building in tony south Bombay to war widows.
The Robert Vadra-DLF deal was a quid pro quo (One thing in return of another) centred around one of India’s most attractive destinations.
Hawala transactions probed by the CBI linked ill-gotten gains in the 2G scam with land deals in Chennai and many heavy weights in the politics were jailed during the busting of the scam.
High incomes and dual incomes today have allowed the youngsters to buy properties in the beginning of their careers. The older generation realised this dream of owning a house at the end of their professional lives and passed it on to the next generation.
However not everyone can fulfil this dream especially in cities like Mumbai where the property rates have soared manifolds in the last few decades. Hence they depend on the homes built by their parents in a liveable city which shall pass on to them when the time comes.
Hence India Inc. is waiting for the budget which has promises to lower down the home loan rates.
Source- Business Standard
