Real estate business can flourish and would be beneficial to both the builders and the owners only when there are laws in place that facilitate all concerned in an equitable basis.
In countries like the USA, Australia, UK etc, getting a furnished accommodation on rent from property rental companies who not only build buildings but also furnish and maintain them properly for the purpose of letting them out is not difficult. They have the laws and rules that permit such an economic activity. In India, such a thing has not yet happened.
Even after six decades of existence as a Sovereign Socialist Secular Democratic Republic, the democratically elected leaders and the officials of India who have been governing India under the authority provided by the written Constitution of India, could neither bring about socialism nor secularism in the manner that the Constitution stipulated.
Indian real estate business for the time being is only concerned with building and selling of properties. The boom has created a big surplus of flats in all major cities and towns. In Mumbai alone, it is reported that there are over 130000 flats remain unsold. Imagine the total money invested and the numbers lying unused all over India! At the same time the builders are not facilitated to give out these properties on rent, because the laws are not conducive for that. It is indeed a great opportunity lost for a country where millions are without shelter and housing!