Q: When will the real estate sector going to have transparency? It is really risky to invest in real estate for first time buyers like us. There are many realty defaulters breaking realty norms.
According to experts, any criminal, illegal transaction or cases related to property dealing can be attached to Money-laundering Act. If any case is lodged under this act then they are surely going to pay a hefty amount.
Once the Money Launder Act is approved by the Parliament, the realty defaulters will have tough time and the realty norms will also get more tough. The criminal realty dealing will be solved after the amendment come into action.