Gurugram's DTCP warns architects & engineers of tough measures, including FIRs & license revocation, for building flaws after final inspection.
Delayed clearances for new buildings are hiking property prices in India by up to 40%, according to the Economic Survey 2013. This issue, along with higher land prices and stamp duty charges, poses challenges for the real estate sector.
Indian real estate players anticipate the Finance Minister's budget to lower construction finance costs, boost the sector, enable affordable housing, and expedite project clearances.