.Infrastructure

.Infrastructure: Energy, Ports, Roads, Airports, Railways etc. Red This question is regarding approach to "Real Estate" sector- either not much detailed out in RAG, or fragmented under various heads. Please suggest the right approach + topics if one were to study the sector as a chapter

"promoter" is the one who invests and develop a project out of his own pocket. "developer" may be a outsourced person by the "promoter" to develop and implement the plan of the promoter. sometimes the promoter and developer can be a same person.

for example, If we want to build an apartment, if we invest our own money and construct it, then we are promoters.

How these promoters cheat customers

There are lot many ways in cheating these customers. and the probability is high in pre-launch projects. For example they get all intial investments throught he customers itself. the estimated intial cost of the project will be far below to lure the customers. Once they are getting trapped into the hands of promoters and exhorbitant interest rates, they increae the project cost by giving hundreds of reasons . In thsi way they ensure that the customer cannot go out but to pay. bcoz he/she has alreay invested. as of now clients need a effective grievance redressal mechanisms . this issue is addressed by setting up a tribunal exclusive for these real estate cases which has the powers of a civil court. this will save lot of time and other resources of the already aggrieved customer. Moreover , there are better improvements in the bill like promoter can start launching his projevt only after getting all the approvals related to the project. Like awter connections, electricity,pollution control etc etc.. This way, both the customer and promoter need not to worry much about the over shooting of the cost of the project and subsequently luring the customers. Also the promoter is punishable or can be imposd penalty for false or wrong advertisemnts. But we can say these provisions were dealt in a piece meal manner previously. Like consumer courts, though IPC and Cr.P.C. now this exclusive body is expected to address the issue in a more focussed manner