Speculation in Building Sites

IN Lahore for some years past speculation has been going on building sites. Not a few of the sites to this day remain a mere eye-sore in otherwise decent surroundings. That is because they have to yield big unearned incomes to their "owners." There are other evil consequences following from good sites remaining vacant or ill-built. The average rate-payer is mulcted heavily in rents owing to want of accommodation and the city is forced to endure evils of over-crowding. We note that the Mysore State has devised an effective means of preventing speculation in respect of municipal sites. For the disposal of buildings sites it assigns a limit of one year for the construction of buildings costing Rs. 3,000 and less and two years for those of higher value.