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Q.

India is a bad place to buld rental properties. The tenant can live in your property and can't even evict the worse tenants. India's judiciary has very little respect for private property, and even will allow the default tenant to enjoy your investment without paying rent The Centre is of the opinion that the current legal system has discouraged landlords from reinvesting in their properties as rentals have been kept artificially low. The ministry has estimated a housing shortage of around 25 million in the country - Is this to save the real estate Industry ?

Tags: india, money, centre
Asked by venkatesaldevarajan, 31 May '11 09:08 am
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Answers (3)

 
1.

Rentals are indicators of real worthiness of the investments. The price of a property, especially the high end ones are based on rich people's games, which ordinary folks dare not touch, and prices get played with.
There are two / three things, in this regard that need serious addresssing:
(1) For India specific market in rentals as well as sale of property, the role of Black Money needs to be investigated to the full extent and eradicated, if ANY serious effort is to succeed in favor of citizens in general. If there is existance of Black Money, it can never come on paper, and hence all the paper calculations will never be able to match with day-to-day real estate transactions. All budgets and predictions can never be right if the use of Black Money is so rampant.
(2) Lack of super huge housing facility by the government can actually manage the demand and supply in real estate, the basic need of people.
(3) The enforcement system of law is very weak.
Answered by Aarnika Tiwaari, 31 May '11 09:31 am

 
  
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2.

Thats why there is a saying in India Fools build houses and wise people live inthem i could get my flat vacated after fighting for 14 years in court,.
Answered by rajan, 31 May '11 09:11 am

 
  
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3.

Probably one should ask for docter's certificate before going on renting any property.
Answered by vilas manohar deshpande, 31 May '11 09:27 am

 
  
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Now see http://timesofindia.indiatimes.com/india/Supreme-Courts-model-rent-agreemen t-assures-tenant-5-yrs-stay .You engage a competent professional ..more