Here's one more input from a friend who read the short story at post 145 and who also read the other comments: Anecdotal information is that the Real Estate sector is one of the biggest contributors towards the black economy. Oh, and by the way, here's some more anecdotal information. 1. In the case of a large majority of flats/apartments, conveyancing is not done / is delayed. 2. Often, the common area remains under the ownership of the builder and not that of the society of flat/apartment owners. 3. Same for the land on which the construction is done. This is in the hope that reconstruction will happen / additional FSI will be sanctioned at some later date and the builder can then reap the benefits. Of course all this information is merely anecdotal and is 'unconfirmed, uncorroborated and unverified'. Hence, may well be unreliable. On the other hand, it could well be (mostly) reliable.