India, Aug. 4 -- By Dr Sanjay Chaturvedi, LLB, PhD

Being a builder is one of the toughest task to be in business. Gone are the days when the advances from customers and investors were waiting in ques to invest in project which are just on papers. Till 2007, real estate projects were announced on brochers and by phone calls. Permissions were readily available. I have seen permission files lying on builder's table and it was architects who use to decide the elevations.

Builder use to pay just a token to land lord and get the DA registered without paying any Stamp Duty of GST. Many landlords were satisfied by giving some share in the profit or space. The real Real Estate industry started with establishment of HUDCO in 1970. The first real ...