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Assocham Keeping an Eye Out For Fakes Realty Advt.
| May 7, 2007 |  (Be the first to rate this story!) Loading ... |
Over the past few years, there has been an increase in fake advertisements for owning a ‘dream house’ in leading national newspapers. Seeing the same, Associated Chambers of Commerce and Industry of India (ASSOCHAM) has suggested the government to keep a tight scrutiny over such cases by setting up a watchdog or monitoring committee.
The watchdog monitor task will also include inspecting investment plan of various property developers and nature of the projects which are believed to run at a higher priority than the ones it would take up.
There is a dire need to put a stop at the publishing of these fake advertisements as they lure common man’s hardened money for buying residential property in far flunged areas, promising them budgeted houses, says Mr. Venugopal N. Dhoot, President of Assocham.
Commenting on the surging property scams, Mr. Dhoot said, “A proper mechanism can book frauds behind the bars and force investors to look for the redressal of their grievances.”
The proposed monitoring committee will comprise a panel of experts of Ministry of Urban Affairs, development commissioners, leading property developers and builders, retired judges, and representatives of industry.
The move is primarily taken concerning Non resident Indians (NRIs) who have no other source of knowledge to know about real estate projects than these e-newspapers. If they count on such fake real estate advertisements, they would certainly be cheated as the premises shown turn out to be completely fake.
The above suggestions are incorporated in a Paper that ASSOCHAM would shortly be confirming to submit to government.
Major cities for which the advertisement are showing up include Haridwar, Rishikesh, Nainital, Rudrapur, Muktahshwar, Ranikhet, Kausoli, Dehradun, Bhiwadi, Jaipur, Mathura, Vrindavan, Shimla, Manali, Sonepat and Panipat.
News Published Under: Real Estate India |
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