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Escrow to serve as better functioning of countrys realty

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New measures are flooding every day to curb the realty crime of the nation. Recently as per the source added on www.propertykhazana.com Associated Chambers of Commerce and industry of India has recently suggested for an escrow account to provide better transparency to the realty circuits. Escrow account makes better assurance with safe dealing and it also makes sure about the fund raised from the buyers which are well used only for those particular sites rather than any other lucrative measures of the specific developer.
On a short note with www.propertykhazana.com president of Assoccham – Sajjan Jindal states that “use of escrow will make the buyers well aware of their funds use and the entire remaining will be declared to the developers only after the completion of the committed site with prior to the agreement made between the developers and the buyers. It also has other benefits like insurance liabilities, maintenance and property charges”. Jindal later adds that lack of trust on the developers has affected the realty epic of the country a lot along with the economic melt down.
As a result an appropriate forum is the very need of the hour to supervise the ethics of realty across the country to safeguard the interest of the buyers. In addition a glance on the country property norms and credit assessment while dealing realty by the developers, stakeholders and also the consumers will serve the functioning of the industry in better way, added Jindal at www.propertykhazana.com. For more and latest Indian real estate news browse www.propertykhazana.com.
Source: NBTVLIVE

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