Why YOU Can't Buy a House | Corruption in Property Market

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Have you ever wondered why buying a house in India is such a costly affair? India has one of the most expensive urban housing markets in the world relative to its per capita income. Renting is much more affordable on the pocket, which is why a lot of young Indians are now deciding not to put their savings into real estate. While a higher interest rate on loans and significant taxes are reasons for the steep prices, there are much more sinister reasons also at work. Corruption is such a menace that nearly two in three purchases include the exchange of black money. And then there are nonsensical governmental regulations that stop the lands in our cities to be put into the best use possible. In this video, we delve into the reasons that make buying a house in Indian cities an impossible dream for many of us.

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Sources: https://docs.google.com/document/d/1q...

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Markers
Introduction: 00:00
Reasons | Low Floor Space Index: 1:24
Reasons | Black Money: 5:06
Reasons | Bribery: 7:39