New Delhi: Over the years, Indian real estate has been a seemingly limitless source of negative hype. Scams, controversies, rumblings about delayed projects, agitations by consumers and debates about the over/under-regulation of the real estate sector have all provided ready cannon fodder for countless publications, internet forums and assorted activists. In fact, the real estate sector has drawn more media flak and outrage than any other industry in India.
This tempts the question – why is Indian real estate a sector that everyone loves to hate? It is a valid question, and one that many corporate heads, industrialists and big-ticket investors have asked me during my business travels abroad. The question – or variants of it - is sometimes asked in an amused and otherwise unconcerned manner, but more often with real interest tinged with worry. After all, almost everyone with a healthy investor instinct has or intends to have a piece of the massive Indian growth story, and any kind of participation in it invariably involves real estate.
There is no easy answer to this question, which is in any case a rather unfair one to begin with. Nevertheless, the generalized negativity about the Indian real estate sector that has been created in the public mind is a reality.
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