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Q. Suppose you have recently started working for a real estate firm. Your firm has decided to build a new residential complex with all kinds of modem amenities. For this purpose, your firm is planning to buy land from the locals of a particular area. Through their contacts the owners of the firm know that a new highway will soon come up in this area, this is why they have identified this particular locality for their upcoming township. You are in charge of land procurement. You have been told to offer a fixed price to the landowners. Most of the landowners agree to sell their land, however, you realize that the price being offered to them is not a fair price. Once the national highway is announced the land prices will shoot up. The firm will make a tidy profit by reselling parcels of land to other real estate developers but the farmers will be left with no land, no source of employment and a comparatively small amount of money. There is nothing illegal in what the firm is doing but do you think their behavior is justified? Why or why; not? Examine both sides of the argument, also suggest what measures can be undertaken to rectify the situation. |
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Answer» Q. Suppose you have recently started working for a real estate firm. Your firm has decided to build a new residential complex with all kinds of modem amenities. For this purpose, your firm is planning to buy land from the locals of a particular area. Through their contacts the owners of the firm know that a new highway will soon come up in this area, this is why they have identified this particular locality for their upcoming township. You are in charge of land procurement. You have been told to offer a fixed price to the landowners. Most of the landowners agree to sell their land, however, you realize that the price being offered to them is not a fair price. Once the national highway is announced the land prices will shoot up. The firm will make a tidy profit by reselling parcels of land to other real estate developers but the farmers will be left with no land, no source of employment and a comparatively small amount of money. There is nothing illegal in what the firm is doing but do you think their behavior is justified? Why or why; not? Examine both sides of the argument, also suggest what measures can be undertaken to rectify the situation. |
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