There was a time when trading malpractices were common in the stock market. There was no independent regulatory body to govern intermediaries such as brokers, sub-brokers and depositories. There was no regulator to protect the rights of investors either.
The real estate sector is in a somewhat similar crisis. Builders, both big and small, are financially stretched and unable to deliver projects on time. The delays range from a few quarters to years. Disputes abound. Those fortunate enough to get possession say they are not getting what they were promised – including the total area – at the time of sale.
Rahul Purohit, Principal Partner, Squareyards, analyzing revival of housing demand.
