There are many countries and places where the properties are bought and sold on the face value of the land. There is no common definition of value of property and it is open to speculation and manipulations. There are many cases when agents and brokers twist the facts to suit their commissions. Suppose that you are planning to buy a piece of land, you are going to different quotations from other providers. And there is no surprise when you see the difference of 40% between the lowest and the highest. There is need of regulator to streamline the property market. The regulator can be appointed by the government. There are regulators for almost all the fields but not sure why realty market has been left open to lots of speculation. Property index must be maintained by the government itself and it should publish the rates at different intervals. Regulator must be empowered with right powers to prosecute as well. It would bring an end to wrong practices and cheating the buyers in property markets.