It is heartening to note that India has moved from Tier 4 (lower transparency) to Tier 3 (semi-transparent) index in the Global real estate transparency Index 2008 (Business Line, July 2, 2008). This improvement has been attributed to the entry of corporate sector and real-estate investors. This sector is one of the largest employment providers, especially to the unskilled and semi-skilled labourers and has linkages to industries like cement, steel and brick industries. With capital appreciation and security against inflation, it the real-estate sector has always been associated with growth and has ever-increasing demand. However, the entry of black money into the sector as a place for hoarding has also ensured that the prices in urban and metropolitan areas go beyond the reach of the middle-class as well as people who have...
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