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A watchdog or a monitoring panel has been suggested for regulating the realty sector to check fake advertisements’ inserted in leading national newspapers that invite people to invest in dream homes or real estate India. “Budding real estate developers have been flooding national dailies with fake advertisements, luring the aam aadmi’s hard – earned money,” said the Associated Chamber of Commerce and Industry (Assocham). “The government should set up a watchdog, or else a monitoring committee, to protect sweat incomes of aam aadmi and the upper middle class, including NRIs, as also to monitor actual project costs invest in real estate India, including use of standard building materials,” the chamber said in a statement.

Courtesy: The Economics Times.
May 3, 2007

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